|
|
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 |
| |
0.185660 |
| |
0.185623 |
| |
0.185540 |
| |
0.185386 |
| |
0.184986 |
| |
0.184938 |
| |
0.184587 |
| |
0.184412 |
| |
0.184270 |
| |
0.184267 |
| |
0.183936 |
| |
0.183716 |
| |
0.183706 |
| |
0.183595 |
| |
0.183542 |
| |
0.183513 |
| |
0.183483 |
| |
0.183444 |
| |
0.183444 |
| |
0.183195 |
| |
0.183124 |
| |
0.182987 |
| |
0.182978 |
| |
0.182912 |
| |
0.182892 |
|
|
|
|
|
 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.
|
