|
|
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 |
| |
0.493052 |
| |
0.493019 |
| |
0.492566 |
| |
0.492386 |
| |
0.492159 |
| |
0.492148 |
| |
0.492049 |
| |
0.491523 |
| |
0.491332 |
| |
0.491086 |
| |
0.491040 |
| |
0.490890 |
| |
0.490251 |
| |
0.489835 |
| |
0.489324 |
| |
0.489290 |
| |
0.489283 |
| |
0.489236 |
| |
0.488535 |
| |
0.487730 |
| |
0.487397 |
| |
0.487229 |
| |
0.487176 |
| |
0.486979 |
| |
0.486549 |
|
|
|
|
|
 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.
|
