|
|
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 |
| |
0.372955 |
| |
0.372952 |
| |
0.372941 |
| |
0.372900 |
| |
0.372816 |
| |
0.372755 |
| |
0.372741 |
| |
0.372688 |
| |
0.372676 |
| |
0.372672 |
| |
0.372663 |
| |
0.372575 |
| |
0.372575 |
| |
0.372559 |
| |
0.372537 |
| |
0.372526 |
| |
0.372458 |
| |
0.372433 |
| |
0.372404 |
| |
0.372384 |
| |
0.372364 |
| |
0.372335 |
| |
0.372312 |
| |
0.372294 |
| |
0.372284 |
|
|
|
|
|
 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.
|
