|
|
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 |
| |
0.456867 |
| |
0.456813 |
| |
0.456721 |
| |
0.456670 |
| |
0.456593 |
| |
0.456550 |
| |
0.456332 |
| |
0.456237 |
| |
0.456198 |
| |
0.456170 |
| |
0.456139 |
| |
0.456127 |
| |
0.455966 |
| |
0.455932 |
| |
0.455888 |
| |
0.455888 |
| |
0.455831 |
| |
0.455807 |
| |
0.455780 |
| |
0.455671 |
| |
0.455656 |
| |
0.455623 |
| |
0.455600 |
| |
0.455600 |
| |
0.455593 |
|
|
|
|
|
 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.
|
