|
|
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 |
| |
0.359982 |
| |
0.359932 |
| |
0.359734 |
| |
0.359700 |
| |
0.359629 |
| |
0.359589 |
| |
0.359589 |
| |
0.359581 |
| |
0.359472 |
| |
0.359471 |
| |
0.359411 |
| |
0.358840 |
| |
0.358728 |
| |
0.358649 |
| |
0.358444 |
| |
0.358345 |
| |
0.357736 |
| |
0.357723 |
| |
0.357722 |
| |
0.357434 |
| |
0.357343 |
| |
0.357327 |
| |
0.357303 |
| |
0.357303 |
| |
0.356995 |
|
|
|
|
|
 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.
|
