|
|
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 |
| |
0.228920 |
| |
0.228831 |
| |
0.228788 |
| |
0.228496 |
| |
0.228441 |
| |
0.228253 |
| |
0.228195 |
| |
0.228162 |
| |
0.228140 |
| |
0.227995 |
| |
0.227990 |
| |
0.227959 |
| |
0.227921 |
| |
0.227874 |
| |
0.227837 |
| |
0.227798 |
| |
0.227798 |
| |
0.227780 |
| |
0.227749 |
| |
0.227707 |
| |
0.227616 |
| |
0.227602 |
| |
0.227483 |
| |
0.227459 |
| |
0.227431 |
|
|
|
|
|
 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.
|
