|
|
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 |
| |
0.406070 |
| |
0.406049 |
| |
0.405992 |
| |
0.405986 |
| |
0.405907 |
| |
0.405823 |
| |
0.405818 |
| |
0.405781 |
| |
0.405773 |
| |
0.405702 |
| |
0.405653 |
| |
0.405595 |
| |
0.405584 |
| |
0.405549 |
| |
0.405549 |
| |
0.405528 |
| |
0.405437 |
| |
0.405427 |
| |
0.405361 |
| |
0.405358 |
| |
0.405353 |
| |
0.405341 |
| |
0.405335 |
| |
0.405317 |
| |
0.405282 |
|
|
|
|
|
 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.
|
