|
|
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 |
| |
0.023773 |
| |
0.023697 |
| |
0.023690 |
| |
0.023512 |
| |
0.023437 |
| |
0.023367 |
| |
0.023342 |
| |
0.023334 |
| |
0.023101 |
| |
0.022977 |
| |
0.022930 |
| |
0.022924 |
| |
0.022613 |
| |
0.022448 |
| |
0.022332 |
| |
0.022283 |
| |
0.022015 |
| |
0.021765 |
| |
0.021733 |
| |
0.021637 |
| |
0.021573 |
| |
0.021450 |
| |
0.021421 |
| |
0.021357 |
| |
0.021355 |
|
|
|
|
|
 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.
|
