|
|
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 |
| |
0.231546 |
| |
0.231506 |
| |
0.231481 |
| |
0.231420 |
| |
0.231332 |
| |
0.231228 |
| |
0.231070 |
| |
0.231006 |
| |
0.230961 |
| |
0.230950 |
| |
0.230866 |
| |
0.230829 |
| |
0.230761 |
| |
0.230750 |
| |
0.230750 |
| |
0.230741 |
| |
0.230696 |
| |
0.230523 |
| |
0.230503 |
| |
0.230483 |
| |
0.230425 |
| |
0.230422 |
| |
0.230403 |
| |
0.230353 |
| |
0.230280 |
|
|
|
|
|
 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.
|
