|
|
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 |
| |
0.079546 |
| |
0.079486 |
| |
0.079379 |
| |
0.079371 |
| |
0.079367 |
| |
0.079252 |
| |
0.079146 |
| |
0.078930 |
| |
0.078870 |
| |
0.078797 |
| |
0.078792 |
| |
0.078578 |
| |
0.078491 |
| |
0.078224 |
| |
0.078218 |
| |
0.078151 |
| |
0.077965 |
| |
0.077922 |
| |
0.077845 |
| |
0.077845 |
| |
0.077790 |
| |
0.077770 |
| |
0.077617 |
| |
0.077579 |
| |
0.077570 |
|
|
|
|
|
 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.
|
