|
|
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 |
| |
0.078605 |
| |
0.078507 |
| |
0.078306 |
| |
0.078223 |
| |
0.078036 |
| |
0.077715 |
| |
0.077689 |
| |
0.077383 |
| |
0.077380 |
| |
0.077090 |
| |
0.077060 |
| |
0.077036 |
| |
0.076975 |
| |
0.076468 |
| |
0.076331 |
| |
0.076221 |
| |
0.076207 |
| |
0.075915 |
| |
0.075913 |
| |
0.075912 |
| |
0.075681 |
| |
0.075579 |
| |
0.075068 |
| |
0.074846 |
| |
0.074765 |
|
|
|
|
|
 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.
|
