|
|
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 |
| |
0.186701 |
| |
0.186666 |
| |
0.186666 |
| |
0.186659 |
| |
0.186597 |
| |
0.186522 |
| |
0.186421 |
| |
0.186375 |
| |
0.186298 |
| |
0.186266 |
| |
0.186244 |
| |
0.186169 |
| |
0.186044 |
| |
0.185949 |
| |
0.185943 |
| |
0.185878 |
| |
0.185810 |
| |
0.185749 |
| |
0.185745 |
| |
0.185684 |
| |
0.185661 |
| |
0.185659 |
| |
0.185434 |
| |
0.185311 |
| |
0.185290 |
|
|
|
|
|
 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.
|
