|
|
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 |
| |
0.206450 |
| |
0.206381 |
| |
0.206356 |
| |
0.206355 |
| |
0.206349 |
| |
0.206340 |
| |
0.206163 |
| |
0.206089 |
| |
0.206028 |
| |
0.205981 |
| |
0.205980 |
| |
0.205948 |
| |
0.205851 |
| |
0.205851 |
| |
0.205810 |
| |
0.205796 |
| |
0.205737 |
| |
0.205677 |
| |
0.205654 |
| |
0.205639 |
| |
0.205520 |
| |
0.205471 |
| |
0.205382 |
| |
0.205251 |
| |
0.205242 |
|
|
|
|
|
 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.
|
