|
|
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 |
| |
0.068690 |
| |
0.068247 |
| |
0.068213 |
| |
0.068089 |
| |
0.067887 |
| |
0.067804 |
| |
0.067727 |
| |
0.067599 |
| |
0.067496 |
| |
0.067221 |
| |
0.067201 |
| |
0.067023 |
| |
0.066990 |
| |
0.066641 |
| |
0.066566 |
| |
0.065453 |
| |
0.065273 |
| |
0.065211 |
| |
0.065027 |
| |
0.064779 |
| |
0.064651 |
| |
0.064559 |
| |
0.063988 |
| |
0.063927 |
| |
0.063909 |
|
|
|
|
|
 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.
|
