|
|
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 |
| |
0.485324 |
| |
0.485144 |
| |
0.485007 |
| |
0.484893 |
| |
0.484793 |
| |
0.484270 |
| |
0.484254 |
| |
0.483858 |
| |
0.483790 |
| |
0.483698 |
| |
0.483682 |
| |
0.483517 |
| |
0.483485 |
| |
0.483446 |
| |
0.483343 |
| |
0.482961 |
| |
0.482717 |
| |
0.482464 |
| |
0.482451 |
| |
0.482026 |
| |
0.481889 |
| |
0.481732 |
| |
0.481732 |
| |
0.481701 |
| |
0.481610 |
|
|
|
|
|
 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.
|
