|
|
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 |
| |
0.070873 |
| |
0.070870 |
| |
0.070864 |
| |
0.070753 |
| |
0.070589 |
| |
0.070580 |
| |
0.070570 |
| |
0.070535 |
| |
0.070522 |
| |
0.070514 |
| |
0.070385 |
| |
0.070233 |
| |
0.070145 |
| |
0.070123 |
| |
0.070037 |
| |
0.070006 |
| |
0.069995 |
| |
0.069967 |
| |
0.069921 |
| |
0.069910 |
| |
0.069888 |
| |
0.069882 |
| |
0.069775 |
| |
0.069758 |
| |
0.069714 |
|
|
|
|
|
 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.
|
