|
|
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 |
| |
0.378111 |
| |
0.378108 |
| |
0.378038 |
| |
0.377689 |
| |
0.377585 |
| |
0.377566 |
| |
0.377561 |
| |
0.377543 |
| |
0.377519 |
| |
0.377399 |
| |
0.377157 |
| |
0.377070 |
| |
0.377005 |
| |
0.376996 |
| |
0.376862 |
| |
0.376824 |
| |
0.376757 |
| |
0.376750 |
| |
0.376723 |
| |
0.376711 |
| |
0.376632 |
| |
0.376336 |
| |
0.376323 |
| |
0.376322 |
| |
0.376227 |
|
|
|
|
|
 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.
|
