|
|
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 |
| |
0.213393 |
| |
0.213377 |
| |
0.212714 |
| |
0.212573 |
| |
0.212563 |
| |
0.212445 |
| |
0.212237 |
| |
0.211347 |
| |
0.211165 |
| |
0.211165 |
| |
0.211103 |
| |
0.210595 |
| |
0.209671 |
| |
0.209205 |
| |
0.208815 |
| |
0.208721 |
| |
0.208410 |
| |
0.208097 |
| |
0.207973 |
| |
0.207575 |
| |
0.207567 |
| |
0.207133 |
| |
0.207004 |
| |
0.206744 |
| |
0.206503 |
|
|
|
|
|
 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.
|
