|
|
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 |
| |
0.407301 |
| |
0.407137 |
| |
0.407036 |
| |
0.406909 |
| |
0.406906 |
| |
0.406866 |
| |
0.406645 |
| |
0.406589 |
| |
0.406580 |
| |
0.406572 |
| |
0.406572 |
| |
0.406497 |
| |
0.406423 |
| |
0.406344 |
| |
0.406258 |
| |
0.406149 |
| |
0.406149 |
| |
0.406081 |
| |
0.405754 |
| |
0.405726 |
| |
0.405626 |
| |
0.405117 |
| |
0.404730 |
| |
0.404720 |
| |
0.404687 |
|
|
|
|
|
 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.
|
