|
|
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 |
| |
0.416078 |
| |
0.416026 |
| |
0.415953 |
| |
0.415949 |
| |
0.415917 |
| |
0.415915 |
| |
0.415912 |
| |
0.415884 |
| |
0.415884 |
| |
0.415866 |
| |
0.415847 |
| |
0.415823 |
| |
0.415784 |
| |
0.415780 |
| |
0.415766 |
| |
0.415742 |
| |
0.415738 |
| |
0.415723 |
| |
0.415679 |
| |
0.415662 |
| |
0.415654 |
| |
0.415570 |
| |
0.415519 |
| |
0.415519 |
| |
0.415444 |
|
|
|
|
|
 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.
|
