|
|
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 |
| |
0.235057 |
| |
0.234874 |
| |
0.234808 |
| |
0.234642 |
| |
0.234332 |
| |
0.234112 |
| |
0.234043 |
| |
0.234009 |
| |
0.233870 |
| |
0.233869 |
| |
0.233648 |
| |
0.233514 |
| |
0.233435 |
| |
0.233430 |
| |
0.233389 |
| |
0.233299 |
| |
0.233104 |
| |
0.233004 |
| |
0.232951 |
| |
0.232813 |
| |
0.232792 |
| |
0.232717 |
| |
0.232638 |
| |
0.232437 |
| |
0.232156 |
|
|
|
|
|
 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.
|
