|
|
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 |
| |
0.352459 |
| |
0.352313 |
| |
0.352288 |
| |
0.352288 |
| |
0.352266 |
| |
0.352241 |
| |
0.352152 |
| |
0.352152 |
| |
0.352069 |
| |
0.352021 |
| |
0.351943 |
| |
0.351838 |
| |
0.351715 |
| |
0.351643 |
| |
0.351625 |
| |
0.351615 |
| |
0.351611 |
| |
0.351566 |
| |
0.351543 |
| |
0.351349 |
| |
0.351129 |
| |
0.351102 |
| |
0.351068 |
| |
0.351010 |
| |
0.350773 |
|
|
|
|
|
 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.
|
