|
|
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 |
| |
0.497691 |
| |
0.497651 |
| |
0.497568 |
| |
0.497495 |
| |
0.497480 |
| |
0.497434 |
| |
0.497262 |
| |
0.497189 |
| |
0.497162 |
| |
0.497141 |
| |
0.497102 |
| |
0.497012 |
| |
0.496999 |
| |
0.496984 |
| |
0.496899 |
| |
0.496720 |
| |
0.496535 |
| |
0.496476 |
| |
0.496475 |
| |
0.496445 |
| |
0.496394 |
| |
0.496131 |
| |
0.496067 |
| |
0.496050 |
| |
0.495979 |
|
|
|
|
|
 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.
|
