|
|
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 |
| |
0.231801 |
| |
0.231790 |
| |
0.231760 |
| |
0.231759 |
| |
0.231711 |
| |
0.231696 |
| |
0.231668 |
| |
0.231560 |
| |
0.231550 |
| |
0.231528 |
| |
0.231268 |
| |
0.231205 |
| |
0.231179 |
| |
0.231166 |
| |
0.231166 |
| |
0.231132 |
| |
0.231009 |
| |
0.230994 |
| |
0.230986 |
| |
0.230978 |
| |
0.230858 |
| |
0.230785 |
| |
0.230778 |
| |
0.230743 |
| |
0.230727 |
|
|
|
|
|
 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.
|
