|
|
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 |
| |
0.156572 |
| |
0.156494 |
| |
0.156494 |
| |
0.156351 |
| |
0.156281 |
| |
0.156247 |
| |
0.156220 |
| |
0.155829 |
| |
0.155708 |
| |
0.155653 |
| |
0.155426 |
| |
0.155391 |
| |
0.155351 |
| |
0.155247 |
| |
0.154726 |
| |
0.154713 |
| |
0.154433 |
| |
0.154354 |
| |
0.154323 |
| |
0.154040 |
| |
0.153821 |
| |
0.153546 |
| |
0.153342 |
| |
0.153250 |
| |
0.153229 |
|
|
|
|
|
 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.
|
