|
|
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 |
| |
0.080110 |
| |
0.080069 |
| |
0.080065 |
| |
0.079996 |
| |
0.079986 |
| |
0.079985 |
| |
0.079966 |
| |
0.079889 |
| |
0.079835 |
| |
0.079810 |
| |
0.079810 |
| |
0.079792 |
| |
0.079788 |
| |
0.079772 |
| |
0.079747 |
| |
0.079731 |
| |
0.079717 |
| |
0.079666 |
| |
0.079629 |
| |
0.079609 |
| |
0.079586 |
| |
0.079515 |
| |
0.079466 |
| |
0.079359 |
| |
0.079325 |
|
|
|
|
|
 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.
|
