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