|
|
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 |
| |
0.358389 |
| |
0.358385 |
| |
0.358340 |
| |
0.358298 |
| |
0.358206 |
| |
0.358186 |
| |
0.358178 |
| |
0.358142 |
| |
0.358104 |
| |
0.358088 |
| |
0.358058 |
| |
0.358002 |
| |
0.357957 |
| |
0.357930 |
| |
0.357930 |
| |
0.357868 |
| |
0.357813 |
| |
0.357787 |
| |
0.357769 |
| |
0.357760 |
| |
0.357659 |
| |
0.357609 |
| |
0.357572 |
| |
0.357532 |
| |
0.357529 |
|
|
|
|
|
 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.
|
