|
|
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 |
| |
0.461072 |
| |
0.460901 |
| |
0.460901 |
| |
0.460841 |
| |
0.460794 |
| |
0.460759 |
| |
0.460468 |
| |
0.460369 |
| |
0.460324 |
| |
0.460283 |
| |
0.460237 |
| |
0.460219 |
| |
0.460117 |
| |
0.460103 |
| |
0.459796 |
| |
0.459462 |
| |
0.459414 |
| |
0.459195 |
| |
0.459144 |
| |
0.459128 |
| |
0.459128 |
| |
0.459009 |
| |
0.458973 |
| |
0.458935 |
| |
0.458920 |
|
|
|
|
|
 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.
|
