|
|
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 |
| |
0.334985 |
| |
0.334962 |
| |
0.334881 |
| |
0.334792 |
| |
0.334774 |
| |
0.334634 |
| |
0.334558 |
| |
0.334397 |
| |
0.334349 |
| |
0.334317 |
| |
0.334300 |
| |
0.334300 |
| |
0.334297 |
| |
0.334247 |
| |
0.334208 |
| |
0.334189 |
| |
0.334165 |
| |
0.334129 |
| |
0.334013 |
| |
0.334013 |
| |
0.334005 |
| |
0.334002 |
| |
0.334002 |
| |
0.333999 |
| |
0.333968 |
|
|
|
|
|
 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.
|
