|
|
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 |
| |
0.229739 |
| |
0.229739 |
| |
0.229732 |
| |
0.229721 |
| |
0.229705 |
| |
0.229699 |
| |
0.229699 |
| |
0.229688 |
| |
0.229674 |
| |
0.229674 |
| |
0.229673 |
| |
0.229394 |
| |
0.229387 |
| |
0.229319 |
| |
0.229306 |
| |
0.229269 |
| |
0.229214 |
| |
0.229196 |
| |
0.229190 |
| |
0.229115 |
| |
0.229026 |
| |
0.228984 |
| |
0.228765 |
| |
0.228736 |
| |
0.228725 |
|
|
|
|
|
 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.
|
