|
|
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 |
| |
0.460691 |
| |
0.460641 |
| |
0.460527 |
| |
0.460492 |
| |
0.460385 |
| |
0.460344 |
| |
0.460295 |
| |
0.460188 |
| |
0.460048 |
| |
0.459917 |
| |
0.459654 |
| |
0.459117 |
| |
0.459085 |
| |
0.459002 |
| |
0.458924 |
| |
0.458869 |
| |
0.458774 |
| |
0.458631 |
| |
0.458598 |
| |
0.458432 |
| |
0.458432 |
| |
0.458332 |
| |
0.458216 |
| |
0.458137 |
| |
0.457864 |
|
|
|
|
|
 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.
|
