|
|
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 |
| |
0.563128 |
| |
0.563067 |
| |
0.563067 |
| |
0.563063 |
| |
0.563055 |
| |
0.563049 |
| |
0.562974 |
| |
0.562968 |
| |
0.562967 |
| |
0.562967 |
| |
0.562941 |
| |
0.562878 |
| |
0.562855 |
| |
0.562830 |
| |
0.562819 |
| |
0.562788 |
| |
0.562781 |
| |
0.562753 |
| |
0.562632 |
| |
0.562622 |
| |
0.562608 |
| |
0.562608 |
| |
0.562565 |
| |
0.562539 |
| |
0.562539 |
|
|
|
|
|
 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.
|
