|
|
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 |
| |
0.084028 |
| |
0.083868 |
| |
0.083710 |
| |
0.083650 |
| |
0.083636 |
| |
0.083334 |
| |
0.083270 |
| |
0.083151 |
| |
0.083033 |
| |
0.083002 |
| |
0.082998 |
| |
0.082942 |
| |
0.082931 |
| |
0.082287 |
| |
0.082131 |
| |
0.081984 |
| |
0.081844 |
| |
0.081790 |
| |
0.081276 |
| |
0.081147 |
| |
0.080899 |
| |
0.080843 |
| |
0.080676 |
| |
0.080416 |
| |
0.080341 |
|
|
|
|
|
 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.
|
