|
|
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 |
| |
0.501732 |
| |
0.501660 |
| |
0.501598 |
| |
0.501560 |
| |
0.501560 |
| |
0.501466 |
| |
0.501322 |
| |
0.501295 |
| |
0.501125 |
| |
0.501071 |
| |
0.501021 |
| |
0.500916 |
| |
0.500650 |
| |
0.500305 |
| |
0.500023 |
| |
0.499798 |
| |
0.499798 |
| |
0.499486 |
| |
0.499453 |
| |
0.499429 |
| |
0.498934 |
| |
0.498880 |
| |
0.498728 |
| |
0.498392 |
| |
0.498364 |
|
|
|
|
|
 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.
|
