|
|
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 |
| |
0.332508 |
| |
0.332497 |
| |
0.332481 |
| |
0.332355 |
| |
0.332346 |
| |
0.332174 |
| |
0.332162 |
| |
0.332004 |
| |
0.331936 |
| |
0.331864 |
| |
0.331782 |
| |
0.331713 |
| |
0.331656 |
| |
0.331622 |
| |
0.331560 |
| |
0.331533 |
| |
0.331526 |
| |
0.331491 |
| |
0.331491 |
| |
0.331488 |
| |
0.331420 |
| |
0.331194 |
| |
0.331124 |
| |
0.331072 |
| |
0.330935 |
|
|
|
|
|
 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.
|
