|
|
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 |
| |
0.411462 |
| |
0.411412 |
| |
0.411410 |
| |
0.411394 |
| |
0.411287 |
| |
0.411249 |
| |
0.411226 |
| |
0.411201 |
| |
0.411161 |
| |
0.411129 |
| |
0.411097 |
| |
0.411070 |
| |
0.411057 |
| |
0.411054 |
| |
0.411019 |
| |
0.411011 |
| |
0.410992 |
| |
0.410871 |
| |
0.410848 |
| |
0.410816 |
| |
0.410805 |
| |
0.410779 |
| |
0.410692 |
| |
0.410551 |
| |
0.410514 |
|
|
|
|
|
 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.
|
