|
|
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 |
| |
0.165771 |
| |
0.165679 |
| |
0.165593 |
| |
0.165469 |
| |
0.165417 |
| |
0.165301 |
| |
0.165261 |
| |
0.165121 |
| |
0.165047 |
| |
0.165031 |
| |
0.164991 |
| |
0.164957 |
| |
0.164916 |
| |
0.164915 |
| |
0.164861 |
| |
0.164789 |
| |
0.164644 |
| |
0.164562 |
| |
0.164549 |
| |
0.164513 |
| |
0.164466 |
| |
0.164431 |
| |
0.164428 |
| |
0.164394 |
| |
0.164388 |
|
|
|
|
|
 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.
|
