|
|
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 |
| |
0.220954 |
| |
0.220932 |
| |
0.220762 |
| |
0.220758 |
| |
0.220722 |
| |
0.220681 |
| |
0.220573 |
| |
0.220401 |
| |
0.220202 |
| |
0.220144 |
| |
0.220047 |
| |
0.219949 |
| |
0.219671 |
| |
0.219644 |
| |
0.219558 |
| |
0.219480 |
| |
0.219427 |
| |
0.219419 |
| |
0.219264 |
| |
0.219251 |
| |
0.219199 |
| |
0.219127 |
| |
0.219115 |
| |
0.219001 |
| |
0.218837 |
|
|
|
|
|
 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.
|
