|
|
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 |
| |
0.440625 |
| |
0.440550 |
| |
0.440531 |
| |
0.440418 |
| |
0.440397 |
| |
0.440338 |
| |
0.440297 |
| |
0.440240 |
| |
0.440076 |
| |
0.440041 |
| |
0.439999 |
| |
0.439899 |
| |
0.439888 |
| |
0.439885 |
| |
0.439865 |
| |
0.439830 |
| |
0.439755 |
| |
0.439609 |
| |
0.439608 |
| |
0.439406 |
| |
0.439402 |
| |
0.439353 |
| |
0.439350 |
| |
0.439161 |
| |
0.439160 |
|
|
|
|
|
 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.
|
