|
|
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 |
| |
0.200485 |
| |
0.200403 |
| |
0.200398 |
| |
0.200257 |
| |
0.200207 |
| |
0.200182 |
| |
0.199896 |
| |
0.199889 |
| |
0.199850 |
| |
0.199774 |
| |
0.199773 |
| |
0.199584 |
| |
0.199493 |
| |
0.199492 |
| |
0.199466 |
| |
0.199459 |
| |
0.199449 |
| |
0.199446 |
| |
0.199446 |
| |
0.199434 |
| |
0.199375 |
| |
0.199352 |
| |
0.199252 |
| |
0.199249 |
| |
0.199235 |
|
|
|
|
|
 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.
|
