|
|
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 |
| |
0.191712 |
| |
0.191639 |
| |
0.191626 |
| |
0.191559 |
| |
0.191532 |
| |
0.191532 |
| |
0.191524 |
| |
0.191447 |
| |
0.191444 |
| |
0.191371 |
| |
0.191317 |
| |
0.191251 |
| |
0.190932 |
| |
0.190862 |
| |
0.190842 |
| |
0.190724 |
| |
0.190657 |
| |
0.190623 |
| |
0.190623 |
| |
0.190498 |
| |
0.190421 |
| |
0.190350 |
| |
0.190307 |
| |
0.190204 |
| |
0.190191 |
|
|
|
|
|
 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.
|
