|
|
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 |
| |
0.150427 |
| |
0.150237 |
| |
0.149395 |
| |
0.149271 |
| |
0.148939 |
| |
0.148799 |
| |
0.148636 |
| |
0.148083 |
| |
0.148056 |
| |
0.148014 |
| |
0.147920 |
| |
0.147048 |
| |
0.146443 |
| |
0.146282 |
| |
0.146235 |
| |
0.145894 |
| |
0.145675 |
| |
0.145344 |
| |
0.145237 |
| |
0.145084 |
| |
0.145058 |
| |
0.144998 |
| |
0.144940 |
| |
0.144910 |
| |
0.144907 |
|
|
|
|
|
 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.
|
