|
|
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 |
| |
0.182865 |
| |
0.182755 |
| |
0.182750 |
| |
0.182738 |
| |
0.182457 |
| |
0.182310 |
| |
0.181897 |
| |
0.181705 |
| |
0.181588 |
| |
0.181584 |
| |
0.181582 |
| |
0.181549 |
| |
0.180795 |
| |
0.180778 |
| |
0.180767 |
| |
0.180758 |
| |
0.180721 |
| |
0.180470 |
| |
0.180463 |
| |
0.180323 |
| |
0.180259 |
| |
0.180219 |
| |
0.180194 |
| |
0.180173 |
| |
0.180155 |
|
|
|
|
|
 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.
|
