|
|
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 |
| |
0.404363 |
| |
0.404323 |
| |
0.403891 |
| |
0.403747 |
| |
0.403437 |
| |
0.403428 |
| |
0.403167 |
| |
0.403078 |
| |
0.402820 |
| |
0.402773 |
| |
0.402315 |
| |
0.402315 |
| |
0.402258 |
| |
0.402231 |
| |
0.402206 |
| |
0.401987 |
| |
0.401719 |
| |
0.401679 |
| |
0.401185 |
| |
0.401066 |
| |
0.400817 |
| |
0.400608 |
| |
0.400101 |
| |
0.399778 |
| |
0.399604 |
|
|
|
|
|
 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.
|
