|
|
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 |
| |
0.122029 |
| |
0.121919 |
| |
0.121699 |
| |
0.121622 |
| |
0.121558 |
| |
0.121453 |
| |
0.121231 |
| |
0.121190 |
| |
0.121184 |
| |
0.121056 |
| |
0.120960 |
| |
0.120925 |
| |
0.120872 |
| |
0.120652 |
| |
0.120618 |
| |
0.120564 |
| |
0.120529 |
| |
0.120445 |
| |
0.120405 |
| |
0.120358 |
| |
0.120290 |
| |
0.120285 |
| |
0.120125 |
| |
0.120087 |
| |
0.119958 |
|
|
|
|
|
 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.
|
