|
|
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 |
| |
0.074159 |
| |
0.074086 |
| |
0.074004 |
| |
0.073955 |
| |
0.073921 |
| |
0.073886 |
| |
0.073495 |
| |
0.073351 |
| |
0.073210 |
| |
0.073167 |
| |
0.073082 |
| |
0.072988 |
| |
0.072764 |
| |
0.072577 |
| |
0.072500 |
| |
0.072435 |
| |
0.072392 |
| |
0.072368 |
| |
0.071953 |
| |
0.071876 |
| |
0.071798 |
| |
0.071568 |
| |
0.071525 |
| |
0.071424 |
| |
0.071338 |
|
|
|
|
|
 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.
|
