|
|
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 |
| |
0.241412 |
| |
0.241410 |
| |
0.241396 |
| |
0.241070 |
| |
0.241040 |
| |
0.240946 |
| |
0.240914 |
| |
0.240781 |
| |
0.240717 |
| |
0.240716 |
| |
0.240679 |
| |
0.240679 |
| |
0.240645 |
| |
0.240591 |
| |
0.240492 |
| |
0.240328 |
| |
0.240287 |
| |
0.240281 |
| |
0.240271 |
| |
0.240140 |
| |
0.240131 |
| |
0.240117 |
| |
0.240085 |
| |
0.240077 |
| |
0.240010 |
|
|
|
|
|
 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.
|
