|
|
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 |
| |
0.071535 |
| |
0.071520 |
| |
0.071501 |
| |
0.071471 |
| |
0.071450 |
| |
0.071385 |
| |
0.071360 |
| |
0.071349 |
| |
0.071310 |
| |
0.071290 |
| |
0.071246 |
| |
0.071178 |
| |
0.070985 |
| |
0.070978 |
| |
0.070956 |
| |
0.070592 |
| |
0.070551 |
| |
0.070401 |
| |
0.070362 |
| |
0.070331 |
| |
0.070223 |
| |
0.070141 |
| |
0.070053 |
| |
0.070010 |
| |
0.070006 |
|
|
|
|
|
 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.
|
