|
|
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 |
| |
0.035609 |
| |
0.035398 |
| |
0.035193 |
| |
0.035176 |
| |
0.035165 |
| |
0.035086 |
| |
0.034856 |
| |
0.034830 |
| |
0.034631 |
| |
0.034585 |
| |
0.034547 |
| |
0.034443 |
| |
0.034362 |
| |
0.034316 |
| |
0.034208 |
| |
0.034091 |
| |
0.033712 |
| |
0.033665 |
| |
0.033494 |
| |
0.033431 |
| |
0.033296 |
| |
0.033114 |
| |
0.032820 |
| |
0.032744 |
| |
0.032712 |
|
|
|
|
|
 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.
|
