|
|
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 |
| |
0.168988 |
| |
0.168919 |
| |
0.168838 |
| |
0.168801 |
| |
0.168777 |
| |
0.168722 |
| |
0.168643 |
| |
0.168541 |
| |
0.168509 |
| |
0.168402 |
| |
0.168399 |
| |
0.168390 |
| |
0.168382 |
| |
0.168367 |
| |
0.168358 |
| |
0.168346 |
| |
0.168297 |
| |
0.168273 |
| |
0.168264 |
| |
0.168123 |
| |
0.168122 |
| |
0.168090 |
| |
0.168086 |
| |
0.168008 |
| |
0.167911 |
|
|
|
|
|
 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.
|
