|
|
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 |
| |
0.361633 |
| |
0.361605 |
| |
0.361521 |
| |
0.361485 |
| |
0.361474 |
| |
0.361399 |
| |
0.361376 |
| |
0.361322 |
| |
0.361250 |
| |
0.361198 |
| |
0.361181 |
| |
0.361178 |
| |
0.361145 |
| |
0.361145 |
| |
0.361134 |
| |
0.361109 |
| |
0.360996 |
| |
0.360965 |
| |
0.360846 |
| |
0.360723 |
| |
0.360660 |
| |
0.360587 |
| |
0.360513 |
| |
0.360513 |
| |
0.360463 |
|
|
|
|
|
 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.
|
