|
|
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 |
| |
0.125866 |
| |
0.125856 |
| |
0.125843 |
| |
0.125812 |
| |
0.125812 |
| |
0.125803 |
| |
0.125771 |
| |
0.125571 |
| |
0.125507 |
| |
0.125416 |
| |
0.125403 |
| |
0.125336 |
| |
0.125329 |
| |
0.125329 |
| |
0.125288 |
| |
0.125262 |
| |
0.125158 |
| |
0.125117 |
| |
0.125030 |
| |
0.125029 |
| |
0.124999 |
| |
0.124875 |
| |
0.124866 |
| |
0.124852 |
| |
0.124803 |
|
|
|
|
|
 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.
|
