|
|
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 |
| |
0.449222 |
| |
0.449215 |
| |
0.449179 |
| |
0.449040 |
| |
0.448899 |
| |
0.448860 |
| |
0.448720 |
| |
0.448621 |
| |
0.448439 |
| |
0.448425 |
| |
0.448243 |
| |
0.448095 |
| |
0.448057 |
| |
0.447991 |
| |
0.447722 |
| |
0.447691 |
| |
0.447637 |
| |
0.447627 |
| |
0.447489 |
| |
0.447238 |
| |
0.447213 |
| |
0.447178 |
| |
0.446908 |
| |
0.446889 |
| |
0.446770 |
|
|
|
|
|
 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.
|
