|
|
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 |
| |
0.235213 |
| |
0.235175 |
| |
0.235173 |
| |
0.235148 |
| |
0.235135 |
| |
0.235003 |
| |
0.235000 |
| |
0.234993 |
| |
0.234851 |
| |
0.234850 |
| |
0.234746 |
| |
0.234693 |
| |
0.234671 |
| |
0.234649 |
| |
0.234598 |
| |
0.234583 |
| |
0.234575 |
| |
0.234562 |
| |
0.234515 |
| |
0.234515 |
| |
0.234399 |
| |
0.234312 |
| |
0.234224 |
| |
0.234071 |
| |
0.234056 |
|
|
|
|
|
 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.
|
