|
|
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 |
| |
0.196294 |
| |
0.196256 |
| |
0.196252 |
| |
0.196227 |
| |
0.196092 |
| |
0.196025 |
| |
0.196017 |
| |
0.196014 |
| |
0.195948 |
| |
0.195946 |
| |
0.195946 |
| |
0.195912 |
| |
0.195848 |
| |
0.195847 |
| |
0.195839 |
| |
0.195749 |
| |
0.195661 |
| |
0.195658 |
| |
0.195653 |
| |
0.195597 |
| |
0.195485 |
| |
0.195429 |
| |
0.195308 |
| |
0.195259 |
| |
0.195198 |
|
|
|
|
|
 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.
|
