|
|
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 |
| |
0.063402 |
| |
0.063361 |
| |
0.063326 |
| |
0.063311 |
| |
0.063182 |
| |
0.063151 |
| |
0.063151 |
| |
0.063087 |
| |
0.063025 |
| |
0.062953 |
| |
0.062936 |
| |
0.062863 |
| |
0.062823 |
| |
0.062772 |
| |
0.062527 |
| |
0.062525 |
| |
0.062449 |
| |
0.062421 |
| |
0.062412 |
| |
0.062412 |
| |
0.062326 |
| |
0.062320 |
| |
0.062243 |
| |
0.062233 |
| |
0.062214 |
|
|
|
|
|
 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.
|
