|
|
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 |
| |
0.334609 |
| |
0.334531 |
| |
0.334418 |
| |
0.334403 |
| |
0.334373 |
| |
0.334334 |
| |
0.334198 |
| |
0.334172 |
| |
0.334123 |
| |
0.334092 |
| |
0.334081 |
| |
0.333909 |
| |
0.333892 |
| |
0.333890 |
| |
0.333842 |
| |
0.333773 |
| |
0.333716 |
| |
0.333684 |
| |
0.333327 |
| |
0.333274 |
| |
0.333192 |
| |
0.333175 |
| |
0.333111 |
| |
0.332964 |
| |
0.332958 |
|
|
|
|
|
 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.
|
