|
|
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 |
| |
0.365189 |
| |
0.364874 |
| |
0.364702 |
| |
0.364492 |
| |
0.364123 |
| |
0.363848 |
| |
0.363845 |
| |
0.363542 |
| |
0.363105 |
| |
0.363077 |
| |
0.363062 |
| |
0.362634 |
| |
0.362423 |
| |
0.362413 |
| |
0.362194 |
| |
0.361502 |
| |
0.361435 |
| |
0.361211 |
| |
0.361062 |
| |
0.361033 |
| |
0.360886 |
| |
0.360855 |
| |
0.360759 |
| |
0.360270 |
| |
0.359998 |
|
|
|
|
|
 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.
|
