|
|
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 |
| |
0.325047 |
| |
0.325042 |
| |
0.325023 |
| |
0.324961 |
| |
0.324952 |
| |
0.324899 |
| |
0.324819 |
| |
0.324743 |
| |
0.324715 |
| |
0.324588 |
| |
0.324485 |
| |
0.324485 |
| |
0.324393 |
| |
0.324393 |
| |
0.324327 |
| |
0.323816 |
| |
0.323789 |
| |
0.323762 |
| |
0.323757 |
| |
0.323528 |
| |
0.323390 |
| |
0.323324 |
| |
0.323324 |
| |
0.323276 |
| |
0.323128 |
|
|
|
|
|
 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.
|
