|
|
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 |
| |
0.081360 |
| |
0.081177 |
| |
0.080923 |
| |
0.080668 |
| |
0.080499 |
| |
0.080295 |
| |
0.080278 |
| |
0.080243 |
| |
0.080225 |
| |
0.080208 |
| |
0.079925 |
| |
0.079895 |
| |
0.079879 |
| |
0.079781 |
| |
0.079745 |
| |
0.079695 |
| |
0.079675 |
| |
0.079295 |
| |
0.079191 |
| |
0.079082 |
| |
0.078755 |
| |
0.078713 |
| |
0.078515 |
| |
0.078513 |
| |
0.078475 |
|
|
|
|
|
 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.
|
