|
|
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 |
| |
0.126658 |
| |
0.126228 |
| |
0.125944 |
| |
0.125589 |
| |
0.125548 |
| |
0.125512 |
| |
0.125437 |
| |
0.125147 |
| |
0.124065 |
| |
0.124000 |
| |
0.123863 |
| |
0.123047 |
| |
0.122912 |
| |
0.122834 |
| |
0.122518 |
| |
0.122439 |
| |
0.122390 |
| |
0.122300 |
| |
0.122189 |
| |
0.121525 |
| |
0.121281 |
| |
0.121218 |
| |
0.121218 |
| |
0.120853 |
| |
0.120567 |
|
|
|
|
|
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.
|