|
|
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 |
| |
0.190110 |
| |
0.190081 |
| |
0.190025 |
| |
0.190025 |
| |
0.189941 |
| |
0.189874 |
| |
0.189823 |
| |
0.189685 |
| |
0.189178 |
| |
0.188997 |
| |
0.188997 |
| |
0.188989 |
| |
0.188909 |
| |
0.188854 |
| |
0.188785 |
| |
0.188777 |
| |
0.188777 |
| |
0.188717 |
| |
0.188696 |
| |
0.188605 |
| |
0.188605 |
| |
0.188377 |
| |
0.188359 |
| |
0.188359 |
| |
0.188331 |
|
|
|
|
|
 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.
|
