|
|
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 |
| |
0.038288 |
| |
0.038261 |
| |
0.038132 |
| |
0.038129 |
| |
0.038097 |
| |
0.037964 |
| |
0.037934 |
| |
0.037921 |
| |
0.037911 |
| |
0.037883 |
| |
0.037732 |
| |
0.037686 |
| |
0.037347 |
| |
0.037346 |
| |
0.037342 |
| |
0.037236 |
| |
0.037142 |
| |
0.037129 |
| |
0.036761 |
| |
0.036703 |
| |
0.036650 |
| |
0.036299 |
| |
0.036219 |
| |
0.035850 |
| |
0.035609 |
|
|
|
|
|
 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.
|
