|
|
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 |
| |
0.374844 |
| |
0.374832 |
| |
0.374828 |
| |
0.374811 |
| |
0.374810 |
| |
0.374777 |
| |
0.374771 |
| |
0.374757 |
| |
0.374717 |
| |
0.374710 |
| |
0.374678 |
| |
0.374670 |
| |
0.374582 |
| |
0.374517 |
| |
0.374353 |
| |
0.374353 |
| |
0.374341 |
| |
0.374331 |
| |
0.374275 |
| |
0.374246 |
| |
0.374244 |
| |
0.374244 |
| |
0.374221 |
| |
0.374216 |
| |
0.374167 |
|
|
|
|
|
 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.
|
