|
|
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 |
| |
0.190305 |
| |
0.190299 |
| |
0.190272 |
| |
0.190220 |
| |
0.190115 |
| |
0.190087 |
| |
0.190065 |
| |
0.190020 |
| |
0.190011 |
| |
0.189967 |
| |
0.189937 |
| |
0.189921 |
| |
0.189847 |
| |
0.189841 |
| |
0.189807 |
| |
0.189640 |
| |
0.189588 |
| |
0.189384 |
| |
0.189356 |
| |
0.189349 |
| |
0.189334 |
| |
0.189254 |
| |
0.189203 |
| |
0.189173 |
| |
0.189122 |
|
|
|
|
|
 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.
|
