|
|
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 |
| |
0.135743 |
| |
0.135696 |
| |
0.135582 |
| |
0.135579 |
| |
0.135274 |
| |
0.135271 |
| |
0.135247 |
| |
0.135168 |
| |
0.135064 |
| |
0.135026 |
| |
0.134713 |
| |
0.134555 |
| |
0.134462 |
| |
0.134278 |
| |
0.134266 |
| |
0.134244 |
| |
0.134233 |
| |
0.134232 |
| |
0.133385 |
| |
0.133366 |
| |
0.133167 |
| |
0.132921 |
| |
0.132858 |
| |
0.132515 |
| |
0.132514 |
|
|
|
|
|
 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.
|
