|
|
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 |
| |
0.449541 |
| |
0.449440 |
| |
0.449404 |
| |
0.449358 |
| |
0.449329 |
| |
0.449264 |
| |
0.449209 |
| |
0.449203 |
| |
0.449174 |
| |
0.449084 |
| |
0.448999 |
| |
0.448987 |
| |
0.448920 |
| |
0.448912 |
| |
0.448766 |
| |
0.448719 |
| |
0.448669 |
| |
0.448523 |
| |
0.448491 |
| |
0.448474 |
| |
0.448463 |
| |
0.448456 |
| |
0.448303 |
| |
0.448302 |
| |
0.448249 |
|
|
|
|
|
 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.
|
