|
|
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 |
| |
0.349365 |
| |
0.349086 |
| |
0.349068 |
| |
0.348915 |
| |
0.348811 |
| |
0.348781 |
| |
0.348721 |
| |
0.348694 |
| |
0.348694 |
| |
0.348613 |
| |
0.348611 |
| |
0.348500 |
| |
0.348396 |
| |
0.348292 |
| |
0.348149 |
| |
0.348079 |
| |
0.348078 |
| |
0.347927 |
| |
0.347726 |
| |
0.347634 |
| |
0.347416 |
| |
0.347305 |
| |
0.347224 |
| |
0.347158 |
| |
0.346910 |
|
|
|
|
|
 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.
|
