|
|
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 |
| |
0.307175 |
| |
0.307152 |
| |
0.306997 |
| |
0.306966 |
| |
0.306830 |
| |
0.306703 |
| |
0.306549 |
| |
0.306497 |
| |
0.306434 |
| |
0.306344 |
| |
0.306326 |
| |
0.306275 |
| |
0.306244 |
| |
0.306218 |
| |
0.306206 |
| |
0.306206 |
| |
0.306152 |
| |
0.306083 |
| |
0.305873 |
| |
0.305825 |
| |
0.305802 |
| |
0.305771 |
| |
0.305653 |
| |
0.305632 |
| |
0.305574 |
|
|
|
|
|
 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.
|
