|
|
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 |
| |
0.182728 |
| |
0.182645 |
| |
0.182434 |
| |
0.182266 |
| |
0.182165 |
| |
0.181935 |
| |
0.181918 |
| |
0.181917 |
| |
0.181911 |
| |
0.181900 |
| |
0.181834 |
| |
0.181747 |
| |
0.181688 |
| |
0.181688 |
| |
0.181673 |
| |
0.181581 |
| |
0.181424 |
| |
0.181362 |
| |
0.181326 |
| |
0.181246 |
| |
0.181208 |
| |
0.181165 |
| |
0.181036 |
| |
0.180992 |
| |
0.180990 |
|
|
|
|
|
 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.
|
