|
|
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 |
| |
0.448118 |
| |
0.448035 |
| |
0.447998 |
| |
0.447998 |
| |
0.447851 |
| |
0.447578 |
| |
0.447416 |
| |
0.447392 |
| |
0.447254 |
| |
0.447237 |
| |
0.447199 |
| |
0.447134 |
| |
0.447122 |
| |
0.447035 |
| |
0.446982 |
| |
0.446949 |
| |
0.446922 |
| |
0.446732 |
| |
0.446687 |
| |
0.446686 |
| |
0.446661 |
| |
0.446651 |
| |
0.446648 |
| |
0.446640 |
| |
0.446554 |
|
|
|
|
|
 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.
|
