|
|
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 |
| |
0.438670 |
| |
0.438595 |
| |
0.438569 |
| |
0.438567 |
| |
0.438425 |
| |
0.438326 |
| |
0.438291 |
| |
0.438051 |
| |
0.437917 |
| |
0.437855 |
| |
0.437709 |
| |
0.437707 |
| |
0.437643 |
| |
0.437168 |
| |
0.436938 |
| |
0.436855 |
| |
0.436766 |
| |
0.436722 |
| |
0.436259 |
| |
0.435990 |
| |
0.435976 |
| |
0.435923 |
| |
0.435882 |
| |
0.435640 |
| |
0.435586 |
|
|
|
|
|
 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.
|
