|
|
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 |
| |
0.365004 |
| |
0.364796 |
| |
0.364726 |
| |
0.364636 |
| |
0.364611 |
| |
0.364592 |
| |
0.364588 |
| |
0.364504 |
| |
0.364502 |
| |
0.364441 |
| |
0.364394 |
| |
0.364378 |
| |
0.364370 |
| |
0.364323 |
| |
0.364321 |
| |
0.364317 |
| |
0.364276 |
| |
0.364273 |
| |
0.364223 |
| |
0.364131 |
| |
0.364082 |
| |
0.364082 |
| |
0.364022 |
| |
0.363988 |
| |
0.363946 |
|
|
|
|
|
 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.
|
