|
|
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 |
| |
0.237072 |
| |
0.236905 |
| |
0.236802 |
| |
0.236771 |
| |
0.236749 |
| |
0.236749 |
| |
0.236711 |
| |
0.236708 |
| |
0.236697 |
| |
0.236619 |
| |
0.236591 |
| |
0.236568 |
| |
0.236451 |
| |
0.236417 |
| |
0.236305 |
| |
0.236233 |
| |
0.236198 |
| |
0.236067 |
| |
0.236038 |
| |
0.235900 |
| |
0.235779 |
| |
0.235778 |
| |
0.235741 |
| |
0.235670 |
| |
0.235646 |
|
|
|
|
|
 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.
|
