|
|
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 |
| |
0.312278 |
| |
0.312278 |
| |
0.312277 |
| |
0.312262 |
| |
0.312173 |
| |
0.311930 |
| |
0.311923 |
| |
0.311875 |
| |
0.311608 |
| |
0.311575 |
| |
0.311497 |
| |
0.311481 |
| |
0.311453 |
| |
0.311453 |
| |
0.311180 |
| |
0.311034 |
| |
0.310937 |
| |
0.310809 |
| |
0.310807 |
| |
0.310695 |
| |
0.310690 |
| |
0.310669 |
| |
0.310343 |
| |
0.310182 |
| |
0.309812 |
|
|
|
|
|
 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.
|
