|
|
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 |
| |
0.532260 |
| |
0.532088 |
| |
0.531770 |
| |
0.531449 |
| |
0.531418 |
| |
0.531361 |
| |
0.529984 |
| |
0.529556 |
| |
0.529457 |
| |
0.528971 |
| |
0.528773 |
| |
0.527933 |
| |
0.527286 |
| |
0.527085 |
| |
0.527071 |
| |
0.527065 |
| |
0.527037 |
| |
0.527023 |
| |
0.526932 |
| |
0.526545 |
| |
0.526172 |
| |
0.526050 |
| |
0.526000 |
| |
0.525966 |
| |
0.525535 |
|
|
|
|
|
 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.
|
