|
|
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 |
| |
0.233822 |
| |
0.233773 |
| |
0.233615 |
| |
0.233614 |
| |
0.233549 |
| |
0.233547 |
| |
0.233466 |
| |
0.233465 |
| |
0.233453 |
| |
0.233453 |
| |
0.233449 |
| |
0.233432 |
| |
0.233406 |
| |
0.233302 |
| |
0.233243 |
| |
0.233220 |
| |
0.233220 |
| |
0.233149 |
| |
0.233075 |
| |
0.233003 |
| |
0.233003 |
| |
0.232909 |
| |
0.232897 |
| |
0.232896 |
| |
0.232801 |
|
|
|
|
|
 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.
|
