|
|
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 |
| |
0.404988 |
| |
0.404927 |
| |
0.404924 |
| |
0.404767 |
| |
0.404688 |
| |
0.404622 |
| |
0.404559 |
| |
0.404514 |
| |
0.404496 |
| |
0.404453 |
| |
0.404152 |
| |
0.404085 |
| |
0.403910 |
| |
0.403850 |
| |
0.403814 |
| |
0.403690 |
| |
0.403678 |
| |
0.403621 |
| |
0.403457 |
| |
0.403436 |
| |
0.403305 |
| |
0.402971 |
| |
0.402922 |
| |
0.402788 |
| |
0.402599 |
|
|
|
|
|
 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.
|
