|
|
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 |
| |
0.557165 |
| |
0.557165 |
| |
0.557151 |
| |
0.557132 |
| |
0.557127 |
| |
0.557111 |
| |
0.557111 |
| |
0.556954 |
| |
0.556954 |
| |
0.556954 |
| |
0.556935 |
| |
0.556906 |
| |
0.556897 |
| |
0.556897 |
| |
0.556841 |
| |
0.556829 |
| |
0.556799 |
| |
0.556790 |
| |
0.556790 |
| |
0.556778 |
| |
0.556744 |
| |
0.556743 |
| |
0.556732 |
| |
0.556632 |
| |
0.556631 |
|
|
|
|
|
 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.
|
