|
|
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 |
| |
0.223591 |
| |
0.223526 |
| |
0.223518 |
| |
0.223518 |
| |
0.223428 |
| |
0.223316 |
| |
0.223096 |
| |
0.223060 |
| |
0.222921 |
| |
0.222897 |
| |
0.222823 |
| |
0.222778 |
| |
0.222769 |
| |
0.222737 |
| |
0.222722 |
| |
0.222644 |
| |
0.222642 |
| |
0.222640 |
| |
0.222611 |
| |
0.222492 |
| |
0.222466 |
| |
0.222466 |
| |
0.222428 |
| |
0.222250 |
| |
0.222045 |
|
|
|
|
|
 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.
|
