|
|
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 |
| |
0.147469 |
| |
0.147433 |
| |
0.146994 |
| |
0.146906 |
| |
0.146706 |
| |
0.146276 |
| |
0.146167 |
| |
0.146167 |
| |
0.146065 |
| |
0.145862 |
| |
0.145821 |
| |
0.145737 |
| |
0.145639 |
| |
0.145567 |
| |
0.145466 |
| |
0.145434 |
| |
0.145395 |
| |
0.145269 |
| |
0.144909 |
| |
0.144808 |
| |
0.144741 |
| |
0.144668 |
| |
0.144467 |
| |
0.144159 |
| |
0.144122 |
|
|
|
|
|
 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.
|
