|
|
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 |
| |
0.138012 |
| |
0.137973 |
| |
0.137908 |
| |
0.137885 |
| |
0.137830 |
| |
0.137739 |
| |
0.137734 |
| |
0.137707 |
| |
0.137703 |
| |
0.137651 |
| |
0.137578 |
| |
0.137550 |
| |
0.137477 |
| |
0.137382 |
| |
0.137378 |
| |
0.137248 |
| |
0.137241 |
| |
0.137068 |
| |
0.137061 |
| |
0.137059 |
| |
0.136974 |
| |
0.136859 |
| |
0.136839 |
| |
0.136818 |
| |
0.136768 |
|
|
|
|
|
 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.
|
