|
|
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 |
| |
0.242886 |
| |
0.242850 |
| |
0.242806 |
| |
0.242782 |
| |
0.242781 |
| |
0.242760 |
| |
0.242660 |
| |
0.242650 |
| |
0.242585 |
| |
0.242521 |
| |
0.242505 |
| |
0.242445 |
| |
0.242366 |
| |
0.242366 |
| |
0.242034 |
| |
0.241989 |
| |
0.241973 |
| |
0.241915 |
| |
0.241896 |
| |
0.241886 |
| |
0.241878 |
| |
0.241852 |
| |
0.241625 |
| |
0.241504 |
| |
0.241385 |
|
|
|
|
|
 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.
|
