|
|
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 |
| |
0.514225 |
| |
0.514214 |
| |
0.514208 |
| |
0.514019 |
| |
0.513978 |
| |
0.513927 |
| |
0.513921 |
| |
0.513807 |
| |
0.513789 |
| |
0.513748 |
| |
0.513723 |
| |
0.513624 |
| |
0.513552 |
| |
0.513485 |
| |
0.513430 |
| |
0.513287 |
| |
0.513213 |
| |
0.513189 |
| |
0.513156 |
| |
0.513148 |
| |
0.513098 |
| |
0.513050 |
| |
0.513002 |
| |
0.512967 |
| |
0.512852 |
|
|
|
|
|
 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.
|
