|
|
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 |
| |
0.205102 |
| |
0.204960 |
| |
0.204939 |
| |
0.204866 |
| |
0.204846 |
| |
0.204832 |
| |
0.204820 |
| |
0.204766 |
| |
0.204756 |
| |
0.204678 |
| |
0.204661 |
| |
0.204634 |
| |
0.204500 |
| |
0.204428 |
| |
0.204392 |
| |
0.204332 |
| |
0.204076 |
| |
0.204034 |
| |
0.203953 |
| |
0.203842 |
| |
0.203761 |
| |
0.203628 |
| |
0.203514 |
| |
0.203511 |
| |
0.203461 |
|
|
|
|
|
 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.
|
