|
|
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 |
| |
0.219770 |
| |
0.219757 |
| |
0.219610 |
| |
0.219591 |
| |
0.219323 |
| |
0.219276 |
| |
0.219227 |
| |
0.219177 |
| |
0.219005 |
| |
0.218997 |
| |
0.218803 |
| |
0.218797 |
| |
0.218755 |
| |
0.218593 |
| |
0.218452 |
| |
0.218421 |
| |
0.218412 |
| |
0.218278 |
| |
0.218200 |
| |
0.217978 |
| |
0.217890 |
| |
0.217774 |
| |
0.217625 |
| |
0.217512 |
| |
0.217512 |
|
|
|
|
|
 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.
|
