|
|
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 |
| |
0.067244 |
| |
0.067086 |
| |
0.067058 |
| |
0.067008 |
| |
0.066865 |
| |
0.066832 |
| |
0.066809 |
| |
0.066512 |
| |
0.066367 |
| |
0.066283 |
| |
0.066081 |
| |
0.066003 |
| |
0.065893 |
| |
0.065832 |
| |
0.065795 |
| |
0.065714 |
| |
0.065672 |
| |
0.065526 |
| |
0.065310 |
| |
0.065287 |
| |
0.065192 |
| |
0.065015 |
| |
0.064918 |
| |
0.064909 |
| |
0.064830 |
|
|
|
|
|
 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.
|
