|
|
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 |
| |
0.494770 |
| |
0.494741 |
| |
0.494695 |
| |
0.494692 |
| |
0.494623 |
| |
0.494570 |
| |
0.494530 |
| |
0.494521 |
| |
0.494472 |
| |
0.494444 |
| |
0.494316 |
| |
0.494294 |
| |
0.494120 |
| |
0.494097 |
| |
0.494097 |
| |
0.494087 |
| |
0.494037 |
| |
0.493980 |
| |
0.493960 |
| |
0.493812 |
| |
0.493688 |
| |
0.493655 |
| |
0.493601 |
| |
0.493571 |
| |
0.493332 |
|
|
|
|
|
 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.
|
