|
|
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 |
| |
0.137769 |
| |
0.137753 |
| |
0.137733 |
| |
0.137731 |
| |
0.137714 |
| |
0.137599 |
| |
0.137585 |
| |
0.137576 |
| |
0.137376 |
| |
0.137338 |
| |
0.137323 |
| |
0.137226 |
| |
0.137142 |
| |
0.136936 |
| |
0.136932 |
| |
0.136900 |
| |
0.136899 |
| |
0.136894 |
| |
0.136858 |
| |
0.136774 |
| |
0.136745 |
| |
0.136696 |
| |
0.136680 |
| |
0.136570 |
| |
0.136421 |
|
|
|
|
|
 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.
|
