|
|
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 |
| |
0.058281 |
| |
0.058245 |
| |
0.058215 |
| |
0.058193 |
| |
0.058178 |
| |
0.058153 |
| |
0.058101 |
| |
0.058094 |
| |
0.057998 |
| |
0.057995 |
| |
0.057970 |
| |
0.057924 |
| |
0.057740 |
| |
0.057727 |
| |
0.057710 |
| |
0.057650 |
| |
0.057610 |
| |
0.057581 |
| |
0.057574 |
| |
0.057402 |
| |
0.057394 |
| |
0.057376 |
| |
0.057373 |
| |
0.057308 |
| |
0.057271 |
|
|
|
|
|
 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.
|
