|
|
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 |
| |
0.430180 |
| |
0.430135 |
| |
0.430107 |
| |
0.430021 |
| |
0.430017 |
| |
0.429923 |
| |
0.429913 |
| |
0.429858 |
| |
0.429828 |
| |
0.429808 |
| |
0.429774 |
| |
0.429763 |
| |
0.429699 |
| |
0.429668 |
| |
0.429612 |
| |
0.429591 |
| |
0.429455 |
| |
0.429341 |
| |
0.429320 |
| |
0.429301 |
| |
0.429275 |
| |
0.429269 |
| |
0.429241 |
| |
0.429195 |
| |
0.429194 |
|
|
|
|
|
 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.
|
