|
|
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 |
| |
0.336754 |
| |
0.336742 |
| |
0.336727 |
| |
0.336642 |
| |
0.336634 |
| |
0.336429 |
| |
0.336342 |
| |
0.336170 |
| |
0.336054 |
| |
0.335980 |
| |
0.335858 |
| |
0.335855 |
| |
0.335742 |
| |
0.335664 |
| |
0.335661 |
| |
0.335660 |
| |
0.335444 |
| |
0.335413 |
| |
0.335348 |
| |
0.335321 |
| |
0.335232 |
| |
0.335184 |
| |
0.335045 |
| |
0.334962 |
| |
0.334956 |
|
|
|
|
|
 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.
|
