|
|
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 |
| |
0.369772 |
| |
0.369755 |
| |
0.369755 |
| |
0.369743 |
| |
0.369706 |
| |
0.369683 |
| |
0.369631 |
| |
0.369464 |
| |
0.369433 |
| |
0.369433 |
| |
0.369329 |
| |
0.369294 |
| |
0.369244 |
| |
0.369244 |
| |
0.369234 |
| |
0.369118 |
| |
0.369080 |
| |
0.368923 |
| |
0.368879 |
| |
0.368831 |
| |
0.368721 |
| |
0.368706 |
| |
0.368684 |
| |
0.368612 |
| |
0.368576 |
|
|
|
|
|
 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.
|
