|
|
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 |
| |
0.359046 |
| |
0.358862 |
| |
0.358808 |
| |
0.358660 |
| |
0.358610 |
| |
0.358548 |
| |
0.358439 |
| |
0.358286 |
| |
0.358150 |
| |
0.357936 |
| |
0.357843 |
| |
0.357517 |
| |
0.357292 |
| |
0.357209 |
| |
0.357052 |
| |
0.356780 |
| |
0.356643 |
| |
0.356298 |
| |
0.356267 |
| |
0.356119 |
| |
0.356043 |
| |
0.355948 |
| |
0.355741 |
| |
0.355689 |
| |
0.355447 |
|
|
|
|
|
 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.
|
