|
|
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 |
| |
0.473309 |
| |
0.473299 |
| |
0.473281 |
| |
0.473223 |
| |
0.473141 |
| |
0.473109 |
| |
0.473081 |
| |
0.473067 |
| |
0.473054 |
| |
0.472989 |
| |
0.472952 |
| |
0.472917 |
| |
0.472906 |
| |
0.472835 |
| |
0.472727 |
| |
0.472474 |
| |
0.472390 |
| |
0.472343 |
| |
0.472237 |
| |
0.472234 |
| |
0.472024 |
| |
0.471999 |
| |
0.471933 |
| |
0.471869 |
| |
0.471755 |
|
|
|
|
|
 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.
|
