|
|
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 |
| |
0.118149 |
| |
0.118032 |
| |
0.118011 |
| |
0.117978 |
| |
0.117732 |
| |
0.117703 |
| |
0.117546 |
| |
0.117510 |
| |
0.117470 |
| |
0.117370 |
| |
0.117358 |
| |
0.117156 |
| |
0.117104 |
| |
0.117039 |
| |
0.117028 |
| |
0.116896 |
| |
0.116753 |
| |
0.116686 |
| |
0.116632 |
| |
0.116278 |
| |
0.116211 |
| |
0.116183 |
| |
0.116169 |
| |
0.116054 |
| |
0.115997 |
|
|
|
|
|
 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.
|
