|
|
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 |
| |
0.240485 |
| |
0.240456 |
| |
0.240397 |
| |
0.240397 |
| |
0.240387 |
| |
0.240345 |
| |
0.240249 |
| |
0.240235 |
| |
0.240199 |
| |
0.240194 |
| |
0.240169 |
| |
0.240169 |
| |
0.240088 |
| |
0.239966 |
| |
0.239867 |
| |
0.239573 |
| |
0.239571 |
| |
0.239454 |
| |
0.239411 |
| |
0.239249 |
| |
0.239051 |
| |
0.238952 |
| |
0.238889 |
| |
0.238655 |
| |
0.238649 |
|
|
|
|
|
 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.
|
