|
|
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 |
| |
0.423239 |
| |
0.423109 |
| |
0.422994 |
| |
0.422988 |
| |
0.422918 |
| |
0.422859 |
| |
0.422858 |
| |
0.422845 |
| |
0.422791 |
| |
0.422781 |
| |
0.422720 |
| |
0.422696 |
| |
0.422682 |
| |
0.422591 |
| |
0.422555 |
| |
0.422542 |
| |
0.422521 |
| |
0.422433 |
| |
0.422362 |
| |
0.422352 |
| |
0.422343 |
| |
0.422326 |
| |
0.422299 |
| |
0.422273 |
| |
0.422228 |
|
|
|
|
|
 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.
|
