|
|
Correlation analysis helps identify the relationship between two or more companies, showing how they move about each other. It helps assess patterns, manage risk, and improve decision-making by revealing which assets correlate positively or negatively.
|
|
|
|
| Symbol | Correlation |
| |
0.242698 |
| |
0.242698 |
| |
0.242640 |
| |
0.242610 |
| |
0.242536 |
| |
0.242492 |
| |
0.242479 |
| |
0.242448 |
| |
0.242435 |
| |
0.242418 |
| |
0.242362 |
| |
0.242263 |
| |
0.242128 |
| |
0.242038 |
| |
0.241999 |
| |
0.241951 |
| |
0.241951 |
| |
0.241879 |
| |
0.241877 |
| |
0.241838 |
| |
0.241770 |
| |
0.241760 |
| |
0.241733 |
| |
0.241680 |
| |
0.241676 |
|
|
|
|
|
 Stock Correlation - Explanation
Stock Correlation is the statistical measure of the relationship between two stocks. The correlation coefficient ranges between -1 and +1. A correlation of +1 implies that the two stocks will move in the same direction 100% of the time. A correlation of -1 implies the two stocks will move in the opposite direction 100% of the time. A correlation of zero implies that the relationship between the stocks is completely random. Correlations do not always remain stable and can even change on a daily basis. Correlation analysis can help you to diversify your positions. An imperfect correlation between two different stocks allows for more diversification and marginally lower risk.
|
