|
|
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 |
| |
0.352016 |
| |
0.352004 |
| |
0.352003 |
| |
0.352000 |
| |
0.351774 |
| |
0.351752 |
| |
0.351633 |
| |
0.351598 |
| |
0.351501 |
| |
0.351443 |
| |
0.351409 |
| |
0.351383 |
| |
0.351381 |
| |
0.351378 |
| |
0.351335 |
| |
0.351311 |
| |
0.351311 |
| |
0.351252 |
| |
0.351244 |
| |
0.351244 |
| |
0.351225 |
| |
0.351200 |
| |
0.351184 |
| |
0.351176 |
| |
0.351035 |
|
|
|
|
|
 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.
|
