|
|
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 |
| |
0.375658 |
| |
0.375658 |
| |
0.375654 |
| |
0.375606 |
| |
0.375594 |
| |
0.375490 |
| |
0.375340 |
| |
0.375340 |
| |
0.375201 |
| |
0.375095 |
| |
0.375070 |
| |
0.375053 |
| |
0.375035 |
| |
0.375021 |
| |
0.374996 |
| |
0.374992 |
| |
0.374850 |
| |
0.374732 |
| |
0.374730 |
| |
0.374727 |
| |
0.374540 |
| |
0.374501 |
| |
0.374293 |
| |
0.374271 |
| |
0.374269 |
|
|
|
|
|
 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.
|
