|
|
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 |
| |
0.199699 |
| |
0.199689 |
| |
0.199576 |
| |
0.199507 |
| |
0.199381 |
| |
0.199337 |
| |
0.199330 |
| |
0.199317 |
| |
0.199280 |
| |
0.199249 |
| |
0.199239 |
| |
0.199221 |
| |
0.199199 |
| |
0.199191 |
| |
0.199181 |
| |
0.199025 |
| |
0.199025 |
| |
0.199010 |
| |
0.199002 |
| |
0.198973 |
| |
0.198968 |
| |
0.198766 |
| |
0.198758 |
| |
0.198754 |
| |
0.198733 |
|
|
|
|
|
 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.
|
