|
|
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 |
| |
0.248146 |
| |
0.248085 |
| |
0.247789 |
| |
0.247599 |
| |
0.247592 |
| |
0.247543 |
| |
0.247473 |
| |
0.247113 |
| |
0.246966 |
| |
0.246904 |
| |
0.246839 |
| |
0.246775 |
| |
0.246501 |
| |
0.246440 |
| |
0.246428 |
| |
0.246347 |
| |
0.246265 |
| |
0.246093 |
| |
0.246057 |
| |
0.246027 |
| |
0.246015 |
| |
0.245698 |
| |
0.245498 |
| |
0.245465 |
| |
0.245385 |
|
|
|
|
|
 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.
|
