|
|
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 |
| |
0.378360 |
| |
0.378258 |
| |
0.378222 |
| |
0.378150 |
| |
0.378115 |
| |
0.378054 |
| |
0.378054 |
| |
0.378004 |
| |
0.377855 |
| |
0.377850 |
| |
0.377777 |
| |
0.377695 |
| |
0.377691 |
| |
0.377662 |
| |
0.377548 |
| |
0.377416 |
| |
0.377407 |
| |
0.377306 |
| |
0.377240 |
| |
0.377238 |
| |
0.377147 |
| |
0.377147 |
| |
0.377006 |
| |
0.376939 |
| |
0.376916 |
|
|
|
|
|
 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.
|
