|
|
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 |
| |
0.295510 |
| |
0.295494 |
| |
0.295371 |
| |
0.295171 |
| |
0.295057 |
| |
0.295040 |
| |
0.294908 |
| |
0.294830 |
| |
0.294721 |
| |
0.294640 |
| |
0.294631 |
| |
0.294587 |
| |
0.294583 |
| |
0.294464 |
| |
0.294421 |
| |
0.294240 |
| |
0.294228 |
| |
0.294214 |
| |
0.294116 |
| |
0.294045 |
| |
0.293968 |
| |
0.293879 |
| |
0.293771 |
| |
0.293317 |
| |
0.293201 |
|
|
|
|
|
 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.
|
