|
|
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 |
| |
0.473909 |
| |
0.473875 |
| |
0.473741 |
| |
0.473697 |
| |
0.473579 |
| |
0.473511 |
| |
0.473486 |
| |
0.473465 |
| |
0.473463 |
| |
0.473450 |
| |
0.473388 |
| |
0.473341 |
| |
0.473283 |
| |
0.473243 |
| |
0.473222 |
| |
0.473210 |
| |
0.473193 |
| |
0.473192 |
| |
0.473146 |
| |
0.473027 |
| |
0.472972 |
| |
0.472822 |
| |
0.472792 |
| |
0.472741 |
| |
0.472479 |
|
|
|
|
|
 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.
|
