|
|
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 |
| |
0.463506 |
| |
0.463506 |
| |
0.463462 |
| |
0.463462 |
| |
0.463458 |
| |
0.463454 |
| |
0.463405 |
| |
0.463124 |
| |
0.462820 |
| |
0.462809 |
| |
0.462805 |
| |
0.462713 |
| |
0.462649 |
| |
0.462649 |
| |
0.462614 |
| |
0.462610 |
| |
0.462493 |
| |
0.462457 |
| |
0.462358 |
| |
0.462313 |
| |
0.462256 |
| |
0.462046 |
| |
0.461988 |
| |
0.461988 |
| |
0.461816 |
|
|
|
|
|
 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.
|
