|
|
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 |
| |
0.395139 |
| |
0.395121 |
| |
0.395067 |
| |
0.395040 |
| |
0.394997 |
| |
0.394989 |
| |
0.394987 |
| |
0.394979 |
| |
0.394958 |
| |
0.394916 |
| |
0.394897 |
| |
0.394860 |
| |
0.394735 |
| |
0.394663 |
| |
0.394663 |
| |
0.394604 |
| |
0.394518 |
| |
0.394469 |
| |
0.394462 |
| |
0.394461 |
| |
0.394443 |
| |
0.394443 |
| |
0.394328 |
| |
0.394328 |
| |
0.394297 |
|
|
|
|
|
 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.
|
