|
|
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 |
| |
0.756450 |
| |
0.756427 |
| |
0.756425 |
| |
0.756375 |
| |
0.756367 |
| |
0.756367 |
| |
0.756244 |
| |
0.756187 |
| |
0.756170 |
| |
0.756139 |
| |
0.756138 |
| |
0.756098 |
| |
0.755993 |
| |
0.755935 |
| |
0.755848 |
| |
0.755800 |
| |
0.755796 |
| |
0.755638 |
| |
0.755133 |
| |
0.755003 |
| |
0.754959 |
| |
0.754854 |
| |
0.754848 |
| |
0.754794 |
| |
0.754792 |
|
|
|
|
|
 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.
|
