|
|
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 |
| |
0.396377 |
| |
0.396211 |
| |
0.396182 |
| |
0.396106 |
| |
0.395356 |
| |
0.395329 |
| |
0.395175 |
| |
0.395119 |
| |
0.395068 |
| |
0.394972 |
| |
0.394763 |
| |
0.394721 |
| |
0.394700 |
| |
0.394660 |
| |
0.394613 |
| |
0.394594 |
| |
0.394511 |
| |
0.394400 |
| |
0.394236 |
| |
0.394189 |
| |
0.394080 |
| |
0.394008 |
| |
0.393999 |
| |
0.393890 |
| |
0.393687 |
|
|
|
|
|
 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.
|
