|
|
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 |
| |
0.392712 |
| |
0.392709 |
| |
0.392667 |
| |
0.392631 |
| |
0.392631 |
| |
0.392596 |
| |
0.392596 |
| |
0.392489 |
| |
0.392489 |
| |
0.392476 |
| |
0.392470 |
| |
0.392470 |
| |
0.392458 |
| |
0.392339 |
| |
0.392328 |
| |
0.392266 |
| |
0.392262 |
| |
0.392181 |
| |
0.392162 |
| |
0.392140 |
| |
0.392093 |
| |
0.391984 |
| |
0.391925 |
| |
0.391880 |
| |
0.391842 |
|
|
|
|
|
 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.
|
