|
|
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 |
| |
0.002332 |
| |
0.002204 |
| |
0.002142 |
| |
0.001939 |
| |
0.001856 |
| |
0.001631 |
| |
0.001440 |
| |
0.001414 |
| |
0.001125 |
| |
0.001070 |
| |
0.001001 |
| |
0.001001 |
| |
0.000876 |
| |
0.000843 |
| |
0.000717 |
| |
0.000577 |
| |
0.000517 |
| |
0.000509 |
| |
0.000174 |
| |
0.000121 |
| |
-0.000072 |
| |
-0.000275 |
| |
-0.000308 |
| |
-0.000857 |
| |
-0.001417 |
|
|
|
|
|
 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.
|
