|
|
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 |
| |
0.217685 |
| |
0.217656 |
| |
0.217649 |
| |
0.217632 |
| |
0.217591 |
| |
0.217530 |
| |
0.217507 |
| |
0.217474 |
| |
0.217247 |
| |
0.217178 |
| |
0.217165 |
| |
0.217146 |
| |
0.217115 |
| |
0.217115 |
| |
0.217047 |
| |
0.217047 |
| |
0.216895 |
| |
0.216889 |
| |
0.216841 |
| |
0.216833 |
| |
0.216831 |
| |
0.216808 |
| |
0.216687 |
| |
0.216665 |
| |
0.216655 |
|
|
|
|
|
 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.
|
