|
|
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 |
| |
0.296745 |
| |
0.296699 |
| |
0.296699 |
| |
0.296620 |
| |
0.296532 |
| |
0.296465 |
| |
0.296410 |
| |
0.296401 |
| |
0.296393 |
| |
0.296389 |
| |
0.296332 |
| |
0.296322 |
| |
0.296145 |
| |
0.296123 |
| |
0.296098 |
| |
0.296092 |
| |
0.296090 |
| |
0.296088 |
| |
0.296023 |
| |
0.296023 |
| |
0.296021 |
| |
0.295847 |
| |
0.295837 |
| |
0.295773 |
| |
0.295751 |
|
|
|
|
|
 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.
|
