|
|
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 |
| |
0.107483 |
| |
0.107483 |
| |
0.107300 |
| |
0.107097 |
| |
0.107097 |
| |
0.106728 |
| |
0.106725 |
| |
0.106701 |
| |
0.106701 |
| |
0.106601 |
| |
0.106546 |
| |
0.106546 |
| |
0.106472 |
| |
0.106346 |
| |
0.106246 |
| |
0.106205 |
| |
0.106205 |
| |
0.105840 |
| |
0.105710 |
| |
0.105679 |
| |
0.105659 |
| |
0.105589 |
| |
0.105588 |
| |
0.105534 |
| |
0.105412 |
|
|
|
|
|
 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.
|
