|
|
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 |
| |
0.290873 |
| |
0.290873 |
| |
0.290849 |
| |
0.290823 |
| |
0.290747 |
| |
0.290721 |
| |
0.290704 |
| |
0.290637 |
| |
0.290623 |
| |
0.290606 |
| |
0.290579 |
| |
0.290524 |
| |
0.290446 |
| |
0.290432 |
| |
0.290395 |
| |
0.290372 |
| |
0.290135 |
| |
0.290108 |
| |
0.290070 |
| |
0.290032 |
| |
0.289932 |
| |
0.289884 |
| |
0.289869 |
| |
0.289855 |
| |
0.289798 |
|
|
|
|
|
 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.
|
