|
|
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 |
| |
0.002355 |
| |
0.002338 |
| |
0.002265 |
| |
0.002244 |
| |
0.002186 |
| |
0.002168 |
| |
0.002159 |
| |
0.002037 |
| |
0.001988 |
| |
0.001988 |
| |
0.001969 |
| |
0.001892 |
| |
0.001818 |
| |
0.001797 |
| |
0.001761 |
| |
0.001742 |
| |
0.001733 |
| |
0.001720 |
| |
0.001658 |
| |
0.001637 |
| |
0.001609 |
| |
0.001549 |
| |
0.001542 |
| |
0.001534 |
| |
0.001483 |
|
|
|
|
|
 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.
|
