|
|
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 |
| |
0.248154 |
| |
0.248036 |
| |
0.248035 |
| |
0.247924 |
| |
0.247895 |
| |
0.247883 |
| |
0.247821 |
| |
0.247799 |
| |
0.247648 |
| |
0.247555 |
| |
0.247530 |
| |
0.247447 |
| |
0.247387 |
| |
0.247340 |
| |
0.247331 |
| |
0.247286 |
| |
0.247260 |
| |
0.247223 |
| |
0.247136 |
| |
0.247111 |
| |
0.247092 |
| |
0.247081 |
| |
0.247080 |
| |
0.246987 |
| |
0.246951 |
|
|
|
|
|
 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.
|
