|
|
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 |
| |
0.207345 |
| |
0.207299 |
| |
0.207114 |
| |
0.207097 |
| |
0.207064 |
| |
0.207041 |
| |
0.206906 |
| |
0.206824 |
| |
0.206791 |
| |
0.206496 |
| |
0.206383 |
| |
0.206373 |
| |
0.206312 |
| |
0.206159 |
| |
0.206146 |
| |
0.206125 |
| |
0.205929 |
| |
0.205752 |
| |
0.205750 |
| |
0.205675 |
| |
0.205537 |
| |
0.205318 |
| |
0.205297 |
| |
0.205282 |
| |
0.205178 |
|
|
|
|
|
 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.
|
