|
|
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 |
| |
0.439458 |
| |
0.439429 |
| |
0.439245 |
| |
0.439070 |
| |
0.439060 |
| |
0.439049 |
| |
0.439000 |
| |
0.438990 |
| |
0.438981 |
| |
0.438944 |
| |
0.438942 |
| |
0.438934 |
| |
0.438903 |
| |
0.438865 |
| |
0.438784 |
| |
0.438783 |
| |
0.438748 |
| |
0.438730 |
| |
0.438683 |
| |
0.438669 |
| |
0.438643 |
| |
0.438642 |
| |
0.438539 |
| |
0.438431 |
| |
0.438417 |
|
|
|
|
|
 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.
|
