|
|
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 |
| |
0.400003 |
| |
0.399902 |
| |
0.399862 |
| |
0.399860 |
| |
0.399720 |
| |
0.399699 |
| |
0.399689 |
| |
0.399674 |
| |
0.399670 |
| |
0.399644 |
| |
0.399635 |
| |
0.399579 |
| |
0.399557 |
| |
0.399556 |
| |
0.399551 |
| |
0.399479 |
| |
0.399449 |
| |
0.399395 |
| |
0.399385 |
| |
0.399378 |
| |
0.399376 |
| |
0.399334 |
| |
0.399232 |
| |
0.399131 |
| |
0.399129 |
|
|
|
|
|
 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.
|
