|
|
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 |
| |
0.263779 |
| |
0.263726 |
| |
0.263726 |
| |
0.263698 |
| |
0.263608 |
| |
0.263593 |
| |
0.263593 |
| |
0.263498 |
| |
0.263498 |
| |
0.263406 |
| |
0.262855 |
| |
0.262794 |
| |
0.262708 |
| |
0.262663 |
| |
0.262652 |
| |
0.262625 |
| |
0.262511 |
| |
0.262383 |
| |
0.262182 |
| |
0.262042 |
| |
0.261954 |
| |
0.261836 |
| |
0.261648 |
| |
0.261533 |
| |
0.261337 |
|
|
|
|
|
 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.
|
