|
|
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 |
| |
0.287344 |
| |
0.287255 |
| |
0.286955 |
| |
0.286924 |
| |
0.286420 |
| |
0.286251 |
| |
0.286147 |
| |
0.286035 |
| |
0.286022 |
| |
0.285830 |
| |
0.285746 |
| |
0.285674 |
| |
0.285659 |
| |
0.285463 |
| |
0.285459 |
| |
0.285391 |
| |
0.285207 |
| |
0.285169 |
| |
0.285062 |
| |
0.285032 |
| |
0.284839 |
| |
0.284774 |
| |
0.284638 |
| |
0.284528 |
| |
0.284399 |
|
|
|
|
|
 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.
|
