|
|
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 |
| |
0.379133 |
| |
0.379054 |
| |
0.379038 |
| |
0.378685 |
| |
0.378665 |
| |
0.378664 |
| |
0.378554 |
| |
0.378482 |
| |
0.378419 |
| |
0.378319 |
| |
0.378315 |
| |
0.378272 |
| |
0.378257 |
| |
0.378160 |
| |
0.378093 |
| |
0.378083 |
| |
0.378045 |
| |
0.377992 |
| |
0.377850 |
| |
0.377754 |
| |
0.377719 |
| |
0.377714 |
| |
0.377617 |
| |
0.377564 |
| |
0.377535 |
|
|
|
|
|
 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.
|
