|
|
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 |
| |
0.469205 |
| |
0.468994 |
| |
0.468387 |
| |
0.468294 |
| |
0.468007 |
| |
0.467973 |
| |
0.467840 |
| |
0.467627 |
| |
0.467612 |
| |
0.467564 |
| |
0.467561 |
| |
0.467081 |
| |
0.466928 |
| |
0.466928 |
| |
0.466851 |
| |
0.466478 |
| |
0.466214 |
| |
0.465925 |
| |
0.465925 |
| |
0.465888 |
| |
0.465881 |
| |
0.465544 |
| |
0.465390 |
| |
0.465370 |
| |
0.465357 |
|
|
|
|
|
 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.
|
