|
|
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 |
| |
0.461725 |
| |
0.461673 |
| |
0.461560 |
| |
0.461538 |
| |
0.461457 |
| |
0.461296 |
| |
0.461273 |
| |
0.461273 |
| |
0.461216 |
| |
0.461216 |
| |
0.461021 |
| |
0.461021 |
| |
0.460946 |
| |
0.460933 |
| |
0.460888 |
| |
0.460859 |
| |
0.460835 |
| |
0.460830 |
| |
0.460830 |
| |
0.460782 |
| |
0.460782 |
| |
0.460770 |
| |
0.460512 |
| |
0.460512 |
| |
0.460476 |
|
|
|
|
|
 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.
|
