|
|
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 |
| |
0.401284 |
| |
0.401259 |
| |
0.401117 |
| |
0.401109 |
| |
0.401097 |
| |
0.401049 |
| |
0.401030 |
| |
0.400919 |
| |
0.400818 |
| |
0.400786 |
| |
0.400669 |
| |
0.400116 |
| |
0.400088 |
| |
0.399970 |
| |
0.399964 |
| |
0.399913 |
| |
0.399839 |
| |
0.399791 |
| |
0.399764 |
| |
0.399736 |
| |
0.399727 |
| |
0.399718 |
| |
0.399651 |
| |
0.399551 |
| |
0.399507 |
|
|
|
|
|
 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.
|
