|
|
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 |
| |
0.221890 |
| |
0.221882 |
| |
0.221736 |
| |
0.221712 |
| |
0.221689 |
| |
0.221614 |
| |
0.221491 |
| |
0.221298 |
| |
0.221298 |
| |
0.221289 |
| |
0.220987 |
| |
0.220979 |
| |
0.220973 |
| |
0.220898 |
| |
0.220898 |
| |
0.220787 |
| |
0.220784 |
| |
0.220775 |
| |
0.220736 |
| |
0.220310 |
| |
0.220212 |
| |
0.220176 |
| |
0.220155 |
| |
0.220054 |
| |
0.219910 |
|
|
|
|
|
 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.
|
