|
|
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 |
| |
0.064206 |
| |
0.063874 |
| |
0.063590 |
| |
0.063436 |
| |
0.063433 |
| |
0.063422 |
| |
0.063405 |
| |
0.063325 |
| |
0.063164 |
| |
0.062836 |
| |
0.062717 |
| |
0.062445 |
| |
0.062228 |
| |
0.061894 |
| |
0.061623 |
| |
0.061602 |
| |
0.061485 |
| |
0.061477 |
| |
0.061402 |
| |
0.061264 |
| |
0.061256 |
| |
0.060944 |
| |
0.060686 |
| |
0.060574 |
| |
0.060249 |
|
|
|
|
|
 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.
|
