|
|
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 |
| |
0.042094 |
| |
0.042051 |
| |
0.041966 |
| |
0.041957 |
| |
0.041901 |
| |
0.041896 |
| |
0.041892 |
| |
0.041875 |
| |
0.041690 |
| |
0.041684 |
| |
0.041617 |
| |
0.041490 |
| |
0.041471 |
| |
0.041471 |
| |
0.041425 |
| |
0.041404 |
| |
0.041396 |
| |
0.041386 |
| |
0.041243 |
| |
0.041113 |
| |
0.041085 |
| |
0.041062 |
| |
0.041023 |
| |
0.040994 |
| |
0.040917 |
|
|
|
|
|
 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.
|
