|
|
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 |
| |
0.028928 |
| |
0.028905 |
| |
0.028843 |
| |
0.028644 |
| |
0.028582 |
| |
0.028501 |
| |
0.028274 |
| |
0.028169 |
| |
0.028152 |
| |
0.028080 |
| |
0.027943 |
| |
0.027891 |
| |
0.027870 |
| |
0.027861 |
| |
0.027784 |
| |
0.027465 |
| |
0.027401 |
| |
0.027338 |
| |
0.026971 |
| |
0.026851 |
| |
0.026755 |
| |
0.026600 |
| |
0.026494 |
| |
0.026491 |
| |
0.026476 |
|
|
|
|
|
 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.
|
