|
|
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 |
| |
0.125589 |
| |
0.125562 |
| |
0.125511 |
| |
0.125331 |
| |
0.125217 |
| |
0.125084 |
| |
0.125041 |
| |
0.124963 |
| |
0.124655 |
| |
0.124630 |
| |
0.124603 |
| |
0.124486 |
| |
0.124450 |
| |
0.124424 |
| |
0.124240 |
| |
0.124232 |
| |
0.124137 |
| |
0.124132 |
| |
0.123905 |
| |
0.123649 |
| |
0.123459 |
| |
0.123235 |
| |
0.123134 |
| |
0.123016 |
| |
0.123009 |
|
|
|
|
|
 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.
|
