|
|
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 |
| |
0.490897 |
| |
0.490831 |
| |
0.490674 |
| |
0.490671 |
| |
0.490527 |
| |
0.490386 |
| |
0.490325 |
| |
0.490156 |
| |
0.490099 |
| |
0.490035 |
| |
0.489902 |
| |
0.489802 |
| |
0.489790 |
| |
0.489565 |
| |
0.489309 |
| |
0.488797 |
| |
0.488612 |
| |
0.488612 |
| |
0.488612 |
| |
0.488479 |
| |
0.488337 |
| |
0.488323 |
| |
0.487792 |
| |
0.487764 |
| |
0.487568 |
|
|
|
|
|
 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.
|
