|
|
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 |
| |
0.156139 |
| |
0.156061 |
| |
0.155943 |
| |
0.155898 |
| |
0.155882 |
| |
0.155876 |
| |
0.155860 |
| |
0.155614 |
| |
0.155494 |
| |
0.155436 |
| |
0.155395 |
| |
0.155260 |
| |
0.155217 |
| |
0.155184 |
| |
0.155141 |
| |
0.155073 |
| |
0.155060 |
| |
0.155033 |
| |
0.154986 |
| |
0.154939 |
| |
0.154773 |
| |
0.154693 |
| |
0.154675 |
| |
0.154518 |
| |
0.154448 |
|
|
|
|
|
 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.
|
