|
|
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 |
| |
0.145719 |
| |
0.145355 |
| |
0.145215 |
| |
0.144889 |
| |
0.144829 |
| |
0.144819 |
| |
0.144670 |
| |
0.144346 |
| |
0.144217 |
| |
0.143978 |
| |
0.143942 |
| |
0.143861 |
| |
0.143569 |
| |
0.143395 |
| |
0.143225 |
| |
0.143174 |
| |
0.143174 |
| |
0.142887 |
| |
0.142787 |
| |
0.142727 |
| |
0.142664 |
| |
0.142362 |
| |
0.142293 |
| |
0.142266 |
| |
0.142204 |
|
|
|
|
|
 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.
|
