|
|
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 |
| |
0.453079 |
| |
0.453016 |
| |
0.452966 |
| |
0.452837 |
| |
0.452833 |
| |
0.452810 |
| |
0.452805 |
| |
0.452783 |
| |
0.452758 |
| |
0.452732 |
| |
0.452646 |
| |
0.452643 |
| |
0.452524 |
| |
0.452467 |
| |
0.452349 |
| |
0.452260 |
| |
0.452242 |
| |
0.452106 |
| |
0.452102 |
| |
0.451971 |
| |
0.451870 |
| |
0.451842 |
| |
0.451752 |
| |
0.451736 |
| |
0.451699 |
|
|
|
|
|
 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.
|
