|
|
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 |
| |
0.240395 |
| |
0.240282 |
| |
0.240114 |
| |
0.240066 |
| |
0.239965 |
| |
0.239956 |
| |
0.239948 |
| |
0.239936 |
| |
0.239884 |
| |
0.239787 |
| |
0.239786 |
| |
0.239751 |
| |
0.239714 |
| |
0.239673 |
| |
0.239509 |
| |
0.239494 |
| |
0.239491 |
| |
0.239389 |
| |
0.239326 |
| |
0.239307 |
| |
0.239287 |
| |
0.239257 |
| |
0.239251 |
| |
0.239180 |
| |
0.239153 |
|
|
|
|
|
 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.
|
