|
|
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 |
| |
0.098408 |
| |
0.098389 |
| |
0.098385 |
| |
0.098376 |
| |
0.098342 |
| |
0.098303 |
| |
0.098245 |
| |
0.098243 |
| |
0.098211 |
| |
0.098134 |
| |
0.098118 |
| |
0.098071 |
| |
0.098042 |
| |
0.098015 |
| |
0.098015 |
| |
0.098008 |
| |
0.097982 |
| |
0.097900 |
| |
0.097863 |
| |
0.097823 |
| |
0.097822 |
| |
0.097803 |
| |
0.097734 |
| |
0.097722 |
| |
0.097671 |
|
|
|
|
|
 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.
|
