|
|
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 |
| |
0.483299 |
| |
0.482897 |
| |
0.482895 |
| |
0.482892 |
| |
0.482809 |
| |
0.482789 |
| |
0.482780 |
| |
0.482750 |
| |
0.482634 |
| |
0.482589 |
| |
0.482501 |
| |
0.482488 |
| |
0.482467 |
| |
0.482306 |
| |
0.482227 |
| |
0.482196 |
| |
0.482173 |
| |
0.482150 |
| |
0.482147 |
| |
0.482140 |
| |
0.482095 |
| |
0.482073 |
| |
0.482064 |
| |
0.482061 |
| |
0.482052 |
|
|
|
|
|
 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.
|
