|
|
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 |
| |
0.282417 |
| |
0.282416 |
| |
0.282392 |
| |
0.282345 |
| |
0.282320 |
| |
0.282260 |
| |
0.282234 |
| |
0.282094 |
| |
0.282080 |
| |
0.282071 |
| |
0.282067 |
| |
0.282067 |
| |
0.282066 |
| |
0.282060 |
| |
0.282049 |
| |
0.281961 |
| |
0.281933 |
| |
0.281932 |
| |
0.281883 |
| |
0.281860 |
| |
0.281857 |
| |
0.281811 |
| |
0.281793 |
| |
0.281793 |
| |
0.281709 |
|
|
|
|
|
 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.
|
