|
|
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 |
| |
0.473740 |
| |
0.473713 |
| |
0.473654 |
| |
0.473542 |
| |
0.473327 |
| |
0.473263 |
| |
0.473204 |
| |
0.473126 |
| |
0.473060 |
| |
0.473021 |
| |
0.473019 |
| |
0.472965 |
| |
0.472921 |
| |
0.472738 |
| |
0.472735 |
| |
0.472700 |
| |
0.472687 |
| |
0.472620 |
| |
0.472615 |
| |
0.472609 |
| |
0.472473 |
| |
0.472415 |
| |
0.472289 |
| |
0.472261 |
| |
0.472211 |
|
|
|
|
|
 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.
|
