|
|
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 |
| |
0.374403 |
| |
0.374384 |
| |
0.374335 |
| |
0.374327 |
| |
0.374327 |
| |
0.374324 |
| |
0.374249 |
| |
0.374192 |
| |
0.374191 |
| |
0.374176 |
| |
0.374168 |
| |
0.374110 |
| |
0.374050 |
| |
0.374028 |
| |
0.374016 |
| |
0.373979 |
| |
0.373907 |
| |
0.373814 |
| |
0.373636 |
| |
0.373578 |
| |
0.373574 |
| |
0.373543 |
| |
0.373500 |
| |
0.373463 |
| |
0.373461 |
|
|
|
|
|
 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.
|
