|
|
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 |
| |
0.096845 |
| |
0.096643 |
| |
0.096609 |
| |
0.096584 |
| |
0.096570 |
| |
0.096433 |
| |
0.096308 |
| |
0.096185 |
| |
0.096061 |
| |
0.096044 |
| |
0.095887 |
| |
0.095852 |
| |
0.095851 |
| |
0.095846 |
| |
0.095752 |
| |
0.095719 |
| |
0.095602 |
| |
0.095214 |
| |
0.095193 |
| |
0.094946 |
| |
0.094924 |
| |
0.094858 |
| |
0.094841 |
| |
0.094747 |
| |
0.094686 |
|
|
|
|
|
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.
|