|
|
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 |
| |
0.574178 |
| |
0.574170 |
| |
0.574128 |
| |
0.574101 |
| |
0.573897 |
| |
0.573885 |
| |
0.573785 |
| |
0.573694 |
| |
0.573647 |
| |
0.573621 |
| |
0.573570 |
| |
0.573564 |
| |
0.573503 |
| |
0.573447 |
| |
0.573431 |
| |
0.573291 |
| |
0.573271 |
| |
0.573257 |
| |
0.573253 |
| |
0.573193 |
| |
0.573174 |
| |
0.573168 |
| |
0.573111 |
| |
0.573111 |
| |
0.573056 |
|
|
|
|
|
 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.
|
