|
|
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 |
| |
0.394267 |
| |
0.394244 |
| |
0.394195 |
| |
0.394179 |
| |
0.394139 |
| |
0.394119 |
| |
0.394096 |
| |
0.394045 |
| |
0.394009 |
| |
0.394009 |
| |
0.393922 |
| |
0.393906 |
| |
0.393898 |
| |
0.393880 |
| |
0.393848 |
| |
0.393844 |
| |
0.393838 |
| |
0.393814 |
| |
0.393805 |
| |
0.393800 |
| |
0.393749 |
| |
0.393742 |
| |
0.393714 |
| |
0.393695 |
| |
0.393654 |
|
|
|
|
|
 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.
|
