|
|
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 |
| |
0.511825 |
| |
0.511553 |
| |
0.511357 |
| |
0.511150 |
| |
0.511134 |
| |
0.511048 |
| |
0.511039 |
| |
0.510944 |
| |
0.510940 |
| |
0.510837 |
| |
0.510835 |
| |
0.510817 |
| |
0.510814 |
| |
0.510782 |
| |
0.510618 |
| |
0.510585 |
| |
0.510430 |
| |
0.510319 |
| |
0.510309 |
| |
0.510289 |
| |
0.510240 |
| |
0.510199 |
| |
0.510167 |
| |
0.510132 |
| |
0.510113 |
|
|
|
|
|
 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.
|
