|
|
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 |
| |
0.037587 |
| |
0.037579 |
| |
0.037559 |
| |
0.037477 |
| |
0.037451 |
| |
0.037414 |
| |
0.037359 |
| |
0.037356 |
| |
0.037315 |
| |
0.037263 |
| |
0.037251 |
| |
0.037100 |
| |
0.037063 |
| |
0.037052 |
| |
0.036983 |
| |
0.036974 |
| |
0.036941 |
| |
0.036922 |
| |
0.036862 |
| |
0.036842 |
| |
0.036797 |
| |
0.036700 |
| |
0.036622 |
| |
0.036616 |
| |
0.036612 |
|
|
|
|
|
 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.
|
