|
|
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 |
| |
0.365034 |
| |
0.365031 |
| |
0.364967 |
| |
0.364950 |
| |
0.364949 |
| |
0.364929 |
| |
0.364867 |
| |
0.364734 |
| |
0.364733 |
| |
0.364646 |
| |
0.364563 |
| |
0.364479 |
| |
0.364462 |
| |
0.364443 |
| |
0.364378 |
| |
0.364274 |
| |
0.364233 |
| |
0.364225 |
| |
0.364222 |
| |
0.364085 |
| |
0.364076 |
| |
0.364057 |
| |
0.364045 |
| |
0.364030 |
| |
0.363915 |
|
|
|
|
|
 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.
|
