|
|
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 |
| |
0.264371 |
| |
0.264337 |
| |
0.264333 |
| |
0.264286 |
| |
0.264274 |
| |
0.264274 |
| |
0.264256 |
| |
0.264202 |
| |
0.264163 |
| |
0.264145 |
| |
0.264124 |
| |
0.264123 |
| |
0.264116 |
| |
0.264108 |
| |
0.264046 |
| |
0.264044 |
| |
0.264034 |
| |
0.263937 |
| |
0.263874 |
| |
0.263867 |
| |
0.263841 |
| |
0.263761 |
| |
0.263662 |
| |
0.263510 |
| |
0.263501 |
|
|
|
|
|
 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.
|
