|
|
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 |
| |
0.438419 |
| |
0.438357 |
| |
0.438322 |
| |
0.437947 |
| |
0.437554 |
| |
0.437291 |
| |
0.437171 |
| |
0.437148 |
| |
0.437144 |
| |
0.437135 |
| |
0.437034 |
| |
0.436612 |
| |
0.436608 |
| |
0.436593 |
| |
0.436239 |
| |
0.436112 |
| |
0.435934 |
| |
0.435916 |
| |
0.435675 |
| |
0.435425 |
| |
0.435007 |
| |
0.435002 |
| |
0.434816 |
| |
0.434213 |
| |
0.434050 |
|
|
|
|
|
 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.
|
