|
|
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 |
| |
0.209042 |
| |
0.208964 |
| |
0.208931 |
| |
0.208844 |
| |
0.208840 |
| |
0.208748 |
| |
0.208742 |
| |
0.208733 |
| |
0.208732 |
| |
0.208669 |
| |
0.208632 |
| |
0.208585 |
| |
0.208518 |
| |
0.208507 |
| |
0.208457 |
| |
0.208378 |
| |
0.208358 |
| |
0.208358 |
| |
0.208275 |
| |
0.208204 |
| |
0.208148 |
| |
0.208056 |
| |
0.207984 |
| |
0.207934 |
| |
0.207911 |
|
|
|
|
|
 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.
|
