|
|
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 |
| |
0.449764 |
| |
0.449748 |
| |
0.449741 |
| |
0.449737 |
| |
0.449701 |
| |
0.449693 |
| |
0.449674 |
| |
0.449645 |
| |
0.449637 |
| |
0.449586 |
| |
0.449544 |
| |
0.449509 |
| |
0.449509 |
| |
0.449505 |
| |
0.449460 |
| |
0.449399 |
| |
0.449383 |
| |
0.449375 |
| |
0.449267 |
| |
0.449249 |
| |
0.449204 |
| |
0.449154 |
| |
0.449080 |
| |
0.449066 |
| |
0.448968 |
|
|
|
|
|
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.
|