|
|
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 |
| |
0.447323 |
| |
0.447295 |
| |
0.447289 |
| |
0.447282 |
| |
0.447254 |
| |
0.447230 |
| |
0.447167 |
| |
0.447157 |
| |
0.447148 |
| |
0.447103 |
| |
0.447080 |
| |
0.447060 |
| |
0.447032 |
| |
0.447005 |
| |
0.447003 |
| |
0.446994 |
| |
0.446978 |
| |
0.446959 |
| |
0.446956 |
| |
0.446931 |
| |
0.446924 |
| |
0.446919 |
| |
0.446906 |
| |
0.446904 |
| |
0.446875 |
|
|
|
|
|
 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.
|
