|
|
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 |
| |
0.207186 |
| |
0.207148 |
| |
0.207148 |
| |
0.207132 |
| |
0.207132 |
| |
0.207110 |
| |
0.207108 |
| |
0.207100 |
| |
0.207080 |
| |
0.207046 |
| |
0.207011 |
| |
0.206930 |
| |
0.206896 |
| |
0.206846 |
| |
0.206821 |
| |
0.206797 |
| |
0.206794 |
| |
0.206732 |
| |
0.206462 |
| |
0.206383 |
| |
0.206282 |
| |
0.206198 |
| |
0.206184 |
| |
0.206169 |
| |
0.206139 |
|
|
|
|
|
 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.
|
