|
|
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 |
| |
0.198944 |
| |
0.198934 |
| |
0.198802 |
| |
0.198736 |
| |
0.198598 |
| |
0.198478 |
| |
0.198412 |
| |
0.198111 |
| |
0.198073 |
| |
0.197958 |
| |
0.197940 |
| |
0.197731 |
| |
0.197725 |
| |
0.197545 |
| |
0.197530 |
| |
0.197410 |
| |
0.197338 |
| |
0.197307 |
| |
0.197140 |
| |
0.197073 |
| |
0.197065 |
| |
0.197061 |
| |
0.196941 |
| |
0.196737 |
| |
0.196607 |
|
|
|
|
|
 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.
|
