|
|
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 |
| |
0.150268 |
| |
0.150233 |
| |
0.150147 |
| |
0.150068 |
| |
0.150061 |
| |
0.149843 |
| |
0.149785 |
| |
0.149703 |
| |
0.149701 |
| |
0.149684 |
| |
0.149609 |
| |
0.149594 |
| |
0.149574 |
| |
0.149513 |
| |
0.149512 |
| |
0.149474 |
| |
0.149474 |
| |
0.149465 |
| |
0.149442 |
| |
0.149431 |
| |
0.149427 |
| |
0.149398 |
| |
0.149379 |
| |
0.149318 |
| |
0.149277 |
|
|
|
|
|
 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.
|
