|
|
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 |
| |
0.206639 |
| |
0.206625 |
| |
0.206365 |
| |
0.206365 |
| |
0.206279 |
| |
0.206041 |
| |
0.205895 |
| |
0.205894 |
| |
0.205857 |
| |
0.205857 |
| |
0.205609 |
| |
0.205567 |
| |
0.205567 |
| |
0.205401 |
| |
0.205375 |
| |
0.205314 |
| |
0.204947 |
| |
0.204800 |
| |
0.204703 |
| |
0.204463 |
| |
0.204439 |
| |
0.204359 |
| |
0.204162 |
| |
0.204091 |
| |
0.204091 |
|
|
|
|
|
 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.
|
