|
|
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 |
| |
0.411407 |
| |
0.411385 |
| |
0.411385 |
| |
0.411362 |
| |
0.411353 |
| |
0.411331 |
| |
0.411282 |
| |
0.411211 |
| |
0.411100 |
| |
0.411095 |
| |
0.411041 |
| |
0.411040 |
| |
0.411021 |
| |
0.411021 |
| |
0.410995 |
| |
0.410979 |
| |
0.410946 |
| |
0.410939 |
| |
0.410861 |
| |
0.410845 |
| |
0.410840 |
| |
0.410811 |
| |
0.410731 |
| |
0.410720 |
| |
0.410707 |
|
|
|
|
|
 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.
|
