|
|
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 |
| |
0.462749 |
| |
0.462713 |
| |
0.462711 |
| |
0.462666 |
| |
0.462646 |
| |
0.462562 |
| |
0.462508 |
| |
0.462469 |
| |
0.462451 |
| |
0.462324 |
| |
0.462250 |
| |
0.461850 |
| |
0.461845 |
| |
0.461730 |
| |
0.461702 |
| |
0.461667 |
| |
0.461596 |
| |
0.461563 |
| |
0.461514 |
| |
0.461403 |
| |
0.461383 |
| |
0.461338 |
| |
0.461306 |
| |
0.461287 |
| |
0.461162 |
|
|
|
|
|
 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.
|
