|
|
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 |
| |
0.249941 |
| |
0.249790 |
| |
0.249790 |
| |
0.249713 |
| |
0.249550 |
| |
0.249523 |
| |
0.249520 |
| |
0.249491 |
| |
0.249390 |
| |
0.249389 |
| |
0.249384 |
| |
0.249347 |
| |
0.249297 |
| |
0.249098 |
| |
0.249098 |
| |
0.249019 |
| |
0.248880 |
| |
0.248633 |
| |
0.248613 |
| |
0.248446 |
| |
0.248360 |
| |
0.248336 |
| |
0.248286 |
| |
0.248286 |
| |
0.248266 |
|
|
|
|
|
 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.
|
