|
|
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 |
| |
0.397559 |
| |
0.397545 |
| |
0.397534 |
| |
0.397507 |
| |
0.397413 |
| |
0.397364 |
| |
0.397298 |
| |
0.397230 |
| |
0.397229 |
| |
0.397207 |
| |
0.397062 |
| |
0.397057 |
| |
0.396737 |
| |
0.396667 |
| |
0.396483 |
| |
0.396424 |
| |
0.396424 |
| |
0.396404 |
| |
0.396404 |
| |
0.396010 |
| |
0.395974 |
| |
0.395904 |
| |
0.395895 |
| |
0.395878 |
| |
0.395857 |
|
|
|
|
|
 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.
|
