|
|
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 |
| |
0.242854 |
| |
0.242769 |
| |
0.242763 |
| |
0.242762 |
| |
0.242369 |
| |
0.242283 |
| |
0.242072 |
| |
0.241862 |
| |
0.241778 |
| |
0.241673 |
| |
0.241655 |
| |
0.241614 |
| |
0.241544 |
| |
0.241529 |
| |
0.241440 |
| |
0.241382 |
| |
0.241219 |
| |
0.241219 |
| |
0.240811 |
| |
0.240800 |
| |
0.240794 |
| |
0.240768 |
| |
0.240767 |
| |
0.240749 |
| |
0.240636 |
|
|
|
|
|
 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.
|
