|
|
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 |
| |
0.200525 |
| |
0.200470 |
| |
0.200436 |
| |
0.200431 |
| |
0.200431 |
| |
0.200281 |
| |
0.200184 |
| |
0.200171 |
| |
0.200144 |
| |
0.200109 |
| |
0.200105 |
| |
0.199954 |
| |
0.199930 |
| |
0.199849 |
| |
0.199823 |
| |
0.199683 |
| |
0.199639 |
| |
0.199623 |
| |
0.199558 |
| |
0.199538 |
| |
0.199497 |
| |
0.199476 |
| |
0.199343 |
| |
0.199269 |
| |
0.199211 |
|
|
|
|
|
 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.
|
