|
|
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 |
| |
0.281693 |
| |
0.281627 |
| |
0.281627 |
| |
0.281591 |
| |
0.281513 |
| |
0.281468 |
| |
0.281155 |
| |
0.281121 |
| |
0.281080 |
| |
0.280933 |
| |
0.280827 |
| |
0.280810 |
| |
0.280750 |
| |
0.280623 |
| |
0.280598 |
| |
0.280470 |
| |
0.280470 |
| |
0.280466 |
| |
0.280466 |
| |
0.280441 |
| |
0.280389 |
| |
0.280380 |
| |
0.280292 |
| |
0.280274 |
| |
0.280162 |
|
|
|
|
|
 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.
|
