|
|
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 |
| |
0.415394 |
| |
0.415248 |
| |
0.415237 |
| |
0.415231 |
| |
0.415201 |
| |
0.415180 |
| |
0.415124 |
| |
0.415016 |
| |
0.415015 |
| |
0.414935 |
| |
0.414899 |
| |
0.414881 |
| |
0.414881 |
| |
0.414603 |
| |
0.414579 |
| |
0.414549 |
| |
0.414487 |
| |
0.414418 |
| |
0.414351 |
| |
0.414338 |
| |
0.414334 |
| |
0.414334 |
| |
0.414290 |
| |
0.414264 |
| |
0.414104 |
|
|
|
|
|
 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.
|
