|
|
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 |
| |
0.170034 |
| |
0.169985 |
| |
0.169961 |
| |
0.169867 |
| |
0.169705 |
| |
0.169680 |
| |
0.169510 |
| |
0.169468 |
| |
0.169451 |
| |
0.169441 |
| |
0.169419 |
| |
0.169385 |
| |
0.169370 |
| |
0.169358 |
| |
0.169352 |
| |
0.169312 |
| |
0.169282 |
| |
0.169262 |
| |
0.169186 |
| |
0.169176 |
| |
0.169157 |
| |
0.169151 |
| |
0.169130 |
| |
0.169061 |
| |
0.169053 |
|
|
|
|
|
 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.
|
