|
|
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 |
| |
0.093146 |
| |
0.093114 |
| |
0.093022 |
| |
0.093022 |
| |
0.093008 |
| |
0.092368 |
| |
0.092274 |
| |
0.092158 |
| |
0.092158 |
| |
0.091857 |
| |
0.091637 |
| |
0.091521 |
| |
0.091521 |
| |
0.091341 |
| |
0.091006 |
| |
0.090924 |
| |
0.090734 |
| |
0.090712 |
| |
0.090680 |
| |
0.090602 |
| |
0.090486 |
| |
0.090445 |
| |
0.090385 |
| |
0.090163 |
| |
0.090113 |
|
|
|
|
|
 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.
|
