|
|
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 |
| |
0.600143 |
| |
0.600073 |
| |
0.600073 |
| |
0.600024 |
| |
0.600012 |
| |
0.599908 |
| |
0.599886 |
| |
0.599886 |
| |
0.599864 |
| |
0.599803 |
| |
0.599753 |
| |
0.599712 |
| |
0.599634 |
| |
0.599504 |
| |
0.599493 |
| |
0.599479 |
| |
0.599476 |
| |
0.599440 |
| |
0.599431 |
| |
0.599422 |
| |
0.599332 |
| |
0.599297 |
| |
0.598998 |
| |
0.598931 |
| |
0.598871 |
|
|
|
|
|
 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.
|
