|
|
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 |
| |
0.486238 |
| |
0.486226 |
| |
0.486174 |
| |
0.486173 |
| |
0.486050 |
| |
0.485987 |
| |
0.485770 |
| |
0.485678 |
| |
0.485641 |
| |
0.485613 |
| |
0.485552 |
| |
0.485546 |
| |
0.485545 |
| |
0.485534 |
| |
0.485418 |
| |
0.485397 |
| |
0.485375 |
| |
0.485311 |
| |
0.485285 |
| |
0.485238 |
| |
0.485199 |
| |
0.485199 |
| |
0.485171 |
| |
0.485157 |
| |
0.485058 |
|
|
|
|
|
 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.
|
