|
|
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 |
| |
0.114144 |
| |
0.114045 |
| |
0.113994 |
| |
0.113813 |
| |
0.113805 |
| |
0.113794 |
| |
0.113748 |
| |
0.113626 |
| |
0.113612 |
| |
0.113609 |
| |
0.113561 |
| |
0.113561 |
| |
0.113541 |
| |
0.113466 |
| |
0.113428 |
| |
0.113356 |
| |
0.113297 |
| |
0.113192 |
| |
0.113113 |
| |
0.112984 |
| |
0.112978 |
| |
0.112931 |
| |
0.112920 |
| |
0.112893 |
| |
0.112743 |
|
|
|
|
|
 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.
|
