|
|
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 |
| |
0.097678 |
| |
0.097569 |
| |
0.097115 |
| |
0.097044 |
| |
0.096868 |
| |
0.096121 |
| |
0.095960 |
| |
0.095866 |
| |
0.095776 |
| |
0.095554 |
| |
0.095425 |
| |
0.095104 |
| |
0.094967 |
| |
0.094678 |
| |
0.094664 |
| |
0.094411 |
| |
0.093803 |
| |
0.093759 |
| |
0.093715 |
| |
0.093643 |
| |
0.093594 |
| |
0.093469 |
| |
0.093461 |
| |
0.093444 |
| |
0.093419 |
|
|
|
|
|
 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.
|
