|
|
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 |
| |
0.315711 |
| |
0.315624 |
| |
0.315525 |
| |
0.315510 |
| |
0.314887 |
| |
0.314772 |
| |
0.314700 |
| |
0.314515 |
| |
0.314445 |
| |
0.314408 |
| |
0.314325 |
| |
0.314207 |
| |
0.314159 |
| |
0.313922 |
| |
0.313710 |
| |
0.313610 |
| |
0.313385 |
| |
0.313354 |
| |
0.313310 |
| |
0.313290 |
| |
0.313273 |
| |
0.312800 |
| |
0.312734 |
| |
0.312555 |
| |
0.312553 |
|
|
|
|
|
 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.
|
