|
|
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 |
| |
0.363058 |
| |
0.363054 |
| |
0.362994 |
| |
0.362896 |
| |
0.362896 |
| |
0.362891 |
| |
0.362816 |
| |
0.362766 |
| |
0.362749 |
| |
0.362745 |
| |
0.362701 |
| |
0.362697 |
| |
0.362697 |
| |
0.362667 |
| |
0.362659 |
| |
0.362658 |
| |
0.362652 |
| |
0.362650 |
| |
0.362612 |
| |
0.362549 |
| |
0.362535 |
| |
0.362487 |
| |
0.362482 |
| |
0.362390 |
| |
0.362364 |
|
|
|
|
|
 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.
|
