|
|
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 |
| |
0.524658 |
| |
0.524549 |
| |
0.524516 |
| |
0.524511 |
| |
0.524494 |
| |
0.524416 |
| |
0.524205 |
| |
0.523809 |
| |
0.523706 |
| |
0.523608 |
| |
0.523446 |
| |
0.523370 |
| |
0.523185 |
| |
0.523131 |
| |
0.523063 |
| |
0.523060 |
| |
0.522984 |
| |
0.522941 |
| |
0.522808 |
| |
0.522766 |
| |
0.522735 |
| |
0.522637 |
| |
0.522637 |
| |
0.522618 |
| |
0.522585 |
|
|
|
|
|
 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.
|
