|
|
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 |
| |
0.479101 |
| |
0.479082 |
| |
0.479065 |
| |
0.479051 |
| |
0.478974 |
| |
0.478954 |
| |
0.478873 |
| |
0.478833 |
| |
0.478764 |
| |
0.478756 |
| |
0.478746 |
| |
0.478719 |
| |
0.478700 |
| |
0.478641 |
| |
0.478577 |
| |
0.478574 |
| |
0.478493 |
| |
0.478476 |
| |
0.478424 |
| |
0.478413 |
| |
0.478412 |
| |
0.478351 |
| |
0.478244 |
| |
0.478210 |
| |
0.478035 |
|
|
|
|
|
 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.
|
