|
|
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 |
| |
0.514623 |
| |
0.514560 |
| |
0.514345 |
| |
0.514262 |
| |
0.514262 |
| |
0.514184 |
| |
0.513994 |
| |
0.513937 |
| |
0.513906 |
| |
0.513896 |
| |
0.513882 |
| |
0.513809 |
| |
0.513712 |
| |
0.513402 |
| |
0.513231 |
| |
0.512953 |
| |
0.512788 |
| |
0.512691 |
| |
0.512508 |
| |
0.512411 |
| |
0.512398 |
| |
0.512332 |
| |
0.512272 |
| |
0.512262 |
| |
0.512262 |
|
|
|
|
|
 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.
|
