|
|
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 |
| |
0.274262 |
| |
0.274257 |
| |
0.274236 |
| |
0.274232 |
| |
0.274211 |
| |
0.274192 |
| |
0.274188 |
| |
0.274150 |
| |
0.274009 |
| |
0.273978 |
| |
0.273965 |
| |
0.273829 |
| |
0.273747 |
| |
0.273702 |
| |
0.273695 |
| |
0.273643 |
| |
0.273430 |
| |
0.273392 |
| |
0.273304 |
| |
0.273277 |
| |
0.273187 |
| |
0.273158 |
| |
0.273111 |
| |
0.273111 |
| |
0.273046 |
|
|
|
|
|
 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.
|
