|
|
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 |
| |
0.279509 |
| |
0.279495 |
| |
0.279278 |
| |
0.279152 |
| |
0.279141 |
| |
0.279093 |
| |
0.279091 |
| |
0.279042 |
| |
0.278723 |
| |
0.278639 |
| |
0.278515 |
| |
0.278430 |
| |
0.278373 |
| |
0.278217 |
| |
0.278153 |
| |
0.278035 |
| |
0.278010 |
| |
0.277949 |
| |
0.277907 |
| |
0.277870 |
| |
0.277795 |
| |
0.277713 |
| |
0.277627 |
| |
0.277558 |
| |
0.277556 |
|
|
|
|
|
 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.
|
