|
|
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 |
| |
0.576917 |
| |
0.576887 |
| |
0.576857 |
| |
0.576840 |
| |
0.576832 |
| |
0.576832 |
| |
0.576788 |
| |
0.576742 |
| |
0.576735 |
| |
0.576731 |
| |
0.576720 |
| |
0.576618 |
| |
0.576539 |
| |
0.576516 |
| |
0.576378 |
| |
0.576324 |
| |
0.576321 |
| |
0.576284 |
| |
0.576158 |
| |
0.576115 |
| |
0.576089 |
| |
0.576016 |
| |
0.575964 |
| |
0.575825 |
| |
0.575785 |
|
|
|
|
|
 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.
|
