|
|
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 |
| |
0.498282 |
| |
0.498178 |
| |
0.498048 |
| |
0.498038 |
| |
0.498030 |
| |
0.498004 |
| |
0.497990 |
| |
0.497804 |
| |
0.497782 |
| |
0.497745 |
| |
0.497718 |
| |
0.497694 |
| |
0.497692 |
| |
0.497570 |
| |
0.497344 |
| |
0.497322 |
| |
0.497319 |
| |
0.497319 |
| |
0.497264 |
| |
0.497188 |
| |
0.496987 |
| |
0.496908 |
| |
0.496716 |
| |
0.496709 |
| |
0.496518 |
|
|
|
|
|
 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.
|
