|
|
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 |
| |
0.371120 |
| |
0.371117 |
| |
0.371081 |
| |
0.371042 |
| |
0.371003 |
| |
0.370965 |
| |
0.370942 |
| |
0.370932 |
| |
0.370906 |
| |
0.370897 |
| |
0.370867 |
| |
0.370755 |
| |
0.370755 |
| |
0.370695 |
| |
0.370695 |
| |
0.370675 |
| |
0.370620 |
| |
0.370611 |
| |
0.370516 |
| |
0.370510 |
| |
0.370504 |
| |
0.370481 |
| |
0.370462 |
| |
0.370454 |
| |
0.370419 |
|
|
|
|
|
 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.
|
