|
|
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 |
| |
0.172733 |
| |
0.172661 |
| |
0.172452 |
| |
0.172222 |
| |
0.172154 |
| |
0.171849 |
| |
0.171339 |
| |
0.171317 |
| |
0.171127 |
| |
0.171127 |
| |
0.171104 |
| |
0.170981 |
| |
0.170862 |
| |
0.170842 |
| |
0.170752 |
| |
0.170628 |
| |
0.170501 |
| |
0.170459 |
| |
0.170431 |
| |
0.170341 |
| |
0.170336 |
| |
0.170219 |
| |
0.169793 |
| |
0.169603 |
| |
0.169507 |
|
|
|
|
|
 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.
|
