|
|
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 |
| |
0.410033 |
| |
0.409961 |
| |
0.409922 |
| |
0.409891 |
| |
0.409882 |
| |
0.409874 |
| |
0.409867 |
| |
0.409856 |
| |
0.409840 |
| |
0.409784 |
| |
0.409698 |
| |
0.409676 |
| |
0.409673 |
| |
0.409619 |
| |
0.409549 |
| |
0.409549 |
| |
0.409515 |
| |
0.409512 |
| |
0.409488 |
| |
0.409456 |
| |
0.409409 |
| |
0.409383 |
| |
0.409377 |
| |
0.409372 |
| |
0.409362 |
|
|
|
|
|
 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.
|
