|
|
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 |
| |
0.417702 |
| |
0.417642 |
| |
0.417640 |
| |
0.417598 |
| |
0.417576 |
| |
0.417539 |
| |
0.417505 |
| |
0.417429 |
| |
0.417258 |
| |
0.417215 |
| |
0.417212 |
| |
0.417199 |
| |
0.417198 |
| |
0.417198 |
| |
0.417063 |
| |
0.416977 |
| |
0.416686 |
| |
0.416654 |
| |
0.416639 |
| |
0.416604 |
| |
0.416534 |
| |
0.416500 |
| |
0.416434 |
| |
0.416413 |
| |
0.416412 |
|
|
|
|
|
 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.
|
