|
|
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 |
| |
0.123663 |
| |
0.123629 |
| |
0.123621 |
| |
0.123569 |
| |
0.123499 |
| |
0.123379 |
| |
0.123321 |
| |
0.123278 |
| |
0.123275 |
| |
0.123257 |
| |
0.123193 |
| |
0.123081 |
| |
0.123067 |
| |
0.122955 |
| |
0.122822 |
| |
0.122821 |
| |
0.122727 |
| |
0.122719 |
| |
0.122713 |
| |
0.122700 |
| |
0.122692 |
| |
0.122687 |
| |
0.122604 |
| |
0.122576 |
| |
0.122470 |
|
|
|
|
|
 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.
|
