|
|
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 |
| |
0.017819 |
| |
0.017800 |
| |
0.017689 |
| |
0.017624 |
| |
0.017475 |
| |
0.017460 |
| |
0.017173 |
| |
0.017131 |
| |
0.016943 |
| |
0.016733 |
| |
0.016671 |
| |
0.016515 |
| |
0.016494 |
| |
0.016440 |
| |
0.016429 |
| |
0.016235 |
| |
0.016009 |
| |
0.015978 |
| |
0.015949 |
| |
0.015692 |
| |
0.015647 |
| |
0.015418 |
| |
0.015417 |
| |
0.015334 |
| |
0.015325 |
|
|
|
|
|
 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.
|
