|
|
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 |
| |
0.073113 |
| |
0.073090 |
| |
0.072952 |
| |
0.072883 |
| |
0.072878 |
| |
0.072793 |
| |
0.072789 |
| |
0.072779 |
| |
0.072773 |
| |
0.072764 |
| |
0.072755 |
| |
0.072749 |
| |
0.072706 |
| |
0.072490 |
| |
0.072340 |
| |
0.072286 |
| |
0.072202 |
| |
0.072159 |
| |
0.072114 |
| |
0.072108 |
| |
0.072062 |
| |
0.072044 |
| |
0.072043 |
| |
0.072025 |
| |
0.071989 |
|
|
|
|
|
 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.
|
