|
|
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 |
| |
0.555037 |
| |
0.555019 |
| |
0.554933 |
| |
0.554900 |
| |
0.554847 |
| |
0.554558 |
| |
0.554531 |
| |
0.554517 |
| |
0.554387 |
| |
0.554162 |
| |
0.553979 |
| |
0.553948 |
| |
0.553886 |
| |
0.553872 |
| |
0.553763 |
| |
0.553602 |
| |
0.553421 |
| |
0.553395 |
| |
0.553375 |
| |
0.553345 |
| |
0.553279 |
| |
0.553088 |
| |
0.552992 |
| |
0.552809 |
| |
0.552806 |
|
|
|
|
|
 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.
|
