|
|
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 |
| |
0.133753 |
| |
0.133463 |
| |
0.132997 |
| |
0.132889 |
| |
0.132838 |
| |
0.132729 |
| |
0.132636 |
| |
0.132612 |
| |
0.132604 |
| |
0.132469 |
| |
0.132337 |
| |
0.131359 |
| |
0.130830 |
| |
0.130790 |
| |
0.130774 |
| |
0.130658 |
| |
0.130546 |
| |
0.130369 |
| |
0.130051 |
| |
0.129775 |
| |
0.129651 |
| |
0.129545 |
| |
0.129292 |
| |
0.129269 |
| |
0.129254 |
|
|
|
|
|
 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.
|
