|
|
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 |
| |
0.370128 |
| |
0.369984 |
| |
0.369900 |
| |
0.369867 |
| |
0.369796 |
| |
0.369712 |
| |
0.369691 |
| |
0.369654 |
| |
0.369649 |
| |
0.369642 |
| |
0.369573 |
| |
0.369567 |
| |
0.369498 |
| |
0.369474 |
| |
0.369466 |
| |
0.369331 |
| |
0.369274 |
| |
0.369228 |
| |
0.369173 |
| |
0.369172 |
| |
0.369035 |
| |
0.369007 |
| |
0.368980 |
| |
0.368946 |
| |
0.368915 |
|
|
|
|
|
 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.
|
