|
|
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 |
| |
0.171548 |
| |
0.171461 |
| |
0.171219 |
| |
0.171113 |
| |
0.171081 |
| |
0.171016 |
| |
0.170711 |
| |
0.170479 |
| |
0.170271 |
| |
0.170133 |
| |
0.169915 |
| |
0.169709 |
| |
0.169623 |
| |
0.169620 |
| |
0.169567 |
| |
0.169538 |
| |
0.169469 |
| |
0.169399 |
| |
0.169368 |
| |
0.169330 |
| |
0.169313 |
| |
0.169287 |
| |
0.169276 |
| |
0.169246 |
| |
0.169153 |
|
|
|
|
|
 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.
|
