|
|
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 |
| |
0.542566 |
| |
0.542435 |
| |
0.542435 |
| |
0.542429 |
| |
0.542323 |
| |
0.542296 |
| |
0.542290 |
| |
0.542236 |
| |
0.542102 |
| |
0.542083 |
| |
0.542027 |
| |
0.542019 |
| |
0.542001 |
| |
0.541833 |
| |
0.541683 |
| |
0.541630 |
| |
0.541588 |
| |
0.541541 |
| |
0.541366 |
| |
0.541233 |
| |
0.541170 |
| |
0.541143 |
| |
0.541090 |
| |
0.541081 |
| |
0.540955 |
|
|
|
|
|
 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.
|
