|
|
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 |
| |
0.465457 |
| |
0.465443 |
| |
0.465390 |
| |
0.465317 |
| |
0.464979 |
| |
0.464971 |
| |
0.464951 |
| |
0.464910 |
| |
0.464850 |
| |
0.464849 |
| |
0.464843 |
| |
0.464789 |
| |
0.464777 |
| |
0.464712 |
| |
0.464709 |
| |
0.464673 |
| |
0.464673 |
| |
0.464612 |
| |
0.464417 |
| |
0.464380 |
| |
0.464323 |
| |
0.464287 |
| |
0.464224 |
| |
0.464209 |
| |
0.464169 |
|
|
|
|
|
 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.
|
