|
|
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 |
| |
0.279102 |
| |
0.279002 |
| |
0.278999 |
| |
0.278988 |
| |
0.278961 |
| |
0.278935 |
| |
0.278870 |
| |
0.278825 |
| |
0.278825 |
| |
0.278758 |
| |
0.278751 |
| |
0.278671 |
| |
0.278651 |
| |
0.278647 |
| |
0.278647 |
| |
0.278609 |
| |
0.278559 |
| |
0.278527 |
| |
0.278441 |
| |
0.278425 |
| |
0.278404 |
| |
0.278341 |
| |
0.278340 |
| |
0.278321 |
| |
0.278321 |
|
|
|
|
|
 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.
|
