|
|
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 |
| |
0.214884 |
| |
0.214820 |
| |
0.214789 |
| |
0.214723 |
| |
0.214689 |
| |
0.214688 |
| |
0.214521 |
| |
0.214475 |
| |
0.214404 |
| |
0.214391 |
| |
0.214386 |
| |
0.214352 |
| |
0.214347 |
| |
0.214344 |
| |
0.214291 |
| |
0.214290 |
| |
0.214134 |
| |
0.214110 |
| |
0.214068 |
| |
0.214034 |
| |
0.213940 |
| |
0.213925 |
| |
0.213858 |
| |
0.213814 |
| |
0.213756 |
|
|
|
|
|
 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.
|
