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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.
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| Symbol | Correlation |
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0.307689 |
| |
0.307628 |
| |
0.307532 |
| |
0.307445 |
| |
0.307152 |
| |
0.307106 |
| |
0.306933 |
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0.306724 |
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0.306495 |
| |
0.306445 |
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0.306347 |
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0.306240 |
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0.306179 |
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0.306098 |
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0.305968 |
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0.305931 |
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0.305719 |
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0.305642 |
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0.305535 |
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0.305357 |
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0.305286 |
| |
0.305277 |
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0.305267 |
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0.305053 |
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0.305050 |
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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.
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