|
|
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 |
| |
0.465892 |
| |
0.465791 |
| |
0.465751 |
| |
0.465723 |
| |
0.465680 |
| |
0.465434 |
| |
0.465249 |
| |
0.465047 |
| |
0.464969 |
| |
0.464966 |
| |
0.464921 |
| |
0.464846 |
| |
0.464774 |
| |
0.464732 |
| |
0.464710 |
| |
0.464662 |
| |
0.464393 |
| |
0.464220 |
| |
0.464167 |
| |
0.464167 |
| |
0.464052 |
| |
0.463929 |
| |
0.463749 |
| |
0.463740 |
| |
0.463652 |
|
|
|
|
|
 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.
|
