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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.
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| Symbol | Correlation |
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0.471691 |
| |
0.471615 |
| |
0.471478 |
| |
0.471426 |
| |
0.471411 |
| |
0.471404 |
| |
0.471401 |
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0.471341 |
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0.471250 |
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0.471207 |
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0.471194 |
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0.471185 |
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0.471121 |
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0.471083 |
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0.471054 |
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0.471008 |
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0.470964 |
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0.470950 |
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0.470948 |
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0.470903 |
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0.470825 |
| |
0.470807 |
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0.470691 |
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0.470670 |
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0.470643 |
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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.
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