|
|
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 |
| |
0.464281 |
| |
0.464203 |
| |
0.464194 |
| |
0.464128 |
| |
0.464043 |
| |
0.464037 |
| |
0.463995 |
| |
0.463993 |
| |
0.463937 |
| |
0.463875 |
| |
0.463651 |
| |
0.463645 |
| |
0.463620 |
| |
0.463549 |
| |
0.463417 |
| |
0.463304 |
| |
0.463259 |
| |
0.463196 |
| |
0.463137 |
| |
0.462998 |
| |
0.462996 |
| |
0.462927 |
| |
0.462902 |
| |
0.462849 |
| |
0.462773 |
|
|
|
|
|
 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.
|
