|
|
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 |
| |
0.375874 |
| |
0.375783 |
| |
0.375739 |
| |
0.375582 |
| |
0.375463 |
| |
0.375432 |
| |
0.375432 |
| |
0.375409 |
| |
0.375377 |
| |
0.375196 |
| |
0.375103 |
| |
0.374972 |
| |
0.374969 |
| |
0.374963 |
| |
0.374886 |
| |
0.374875 |
| |
0.374842 |
| |
0.374797 |
| |
0.374722 |
| |
0.374705 |
| |
0.374682 |
| |
0.374676 |
| |
0.374646 |
| |
0.374578 |
| |
0.374573 |
|
|
|
|
|
 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.
|
