|
|
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 |
| |
0.050456 |
| |
0.050314 |
| |
0.050282 |
| |
0.050268 |
| |
0.050267 |
| |
0.050210 |
| |
0.050168 |
| |
0.050115 |
| |
0.050098 |
| |
0.050063 |
| |
0.049939 |
| |
0.049939 |
| |
0.049852 |
| |
0.049808 |
| |
0.049783 |
| |
0.049713 |
| |
0.049713 |
| |
0.049691 |
| |
0.049652 |
| |
0.049582 |
| |
0.049536 |
| |
0.049524 |
| |
0.049486 |
| |
0.049483 |
| |
0.049444 |
|
|
|
|
|
 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.
|
