|
|
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 |
| |
0.296213 |
| |
0.296137 |
| |
0.295991 |
| |
0.295908 |
| |
0.295840 |
| |
0.295825 |
| |
0.295699 |
| |
0.295660 |
| |
0.295656 |
| |
0.295586 |
| |
0.295437 |
| |
0.295413 |
| |
0.295370 |
| |
0.295219 |
| |
0.295196 |
| |
0.295195 |
| |
0.295097 |
| |
0.295071 |
| |
0.295052 |
| |
0.295030 |
| |
0.294857 |
| |
0.294549 |
| |
0.294396 |
| |
0.294336 |
| |
0.294305 |
|
|
|
|
|
 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.
|
