|
|
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 |
| |
0.009363 |
| |
0.009283 |
| |
0.009214 |
| |
0.009014 |
| |
0.008794 |
| |
0.008458 |
| |
0.008458 |
| |
0.008147 |
| |
0.007988 |
| |
0.007939 |
| |
0.007902 |
| |
0.007557 |
| |
0.007429 |
| |
0.007355 |
| |
0.007217 |
| |
0.007190 |
| |
0.007043 |
| |
0.006674 |
| |
0.006626 |
| |
0.006487 |
| |
0.005916 |
| |
0.005735 |
| |
0.005718 |
| |
0.005718 |
| |
0.005558 |
|
|
|
|
|
 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.
|
