|
|
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 |
| |
0.377004 |
| |
0.376708 |
| |
0.376673 |
| |
0.376673 |
| |
0.376632 |
| |
0.376530 |
| |
0.376250 |
| |
0.376179 |
| |
0.375898 |
| |
0.375687 |
| |
0.375590 |
| |
0.375535 |
| |
0.375492 |
| |
0.375458 |
| |
0.374742 |
| |
0.374635 |
| |
0.374109 |
| |
0.374062 |
| |
0.373618 |
| |
0.373268 |
| |
0.373098 |
| |
0.372873 |
| |
0.372752 |
| |
0.372465 |
| |
0.372183 |
|
|
|
|
|
 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.
|
