|
|
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 |
| |
0.437803 |
| |
0.437801 |
| |
0.437757 |
| |
0.437744 |
| |
0.437743 |
| |
0.437729 |
| |
0.437686 |
| |
0.437686 |
| |
0.437670 |
| |
0.437670 |
| |
0.437616 |
| |
0.437476 |
| |
0.437423 |
| |
0.437403 |
| |
0.437394 |
| |
0.437367 |
| |
0.437330 |
| |
0.437311 |
| |
0.437291 |
| |
0.437284 |
| |
0.437275 |
| |
0.437275 |
| |
0.437261 |
| |
0.437238 |
| |
0.437214 |
|
|
|
|
|
 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.
|
