|
|
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 |
| |
0.340664 |
| |
0.340616 |
| |
0.340567 |
| |
0.340548 |
| |
0.340486 |
| |
0.340486 |
| |
0.340439 |
| |
0.340390 |
| |
0.340260 |
| |
0.340202 |
| |
0.340119 |
| |
0.340119 |
| |
0.340103 |
| |
0.340082 |
| |
0.340047 |
| |
0.340001 |
| |
0.339925 |
| |
0.339804 |
| |
0.339794 |
| |
0.339612 |
| |
0.339587 |
| |
0.339585 |
| |
0.339584 |
| |
0.339537 |
| |
0.339469 |
|
|
|
|
|
 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.
|
