|
|
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 |
| |
0.354231 |
| |
0.354231 |
| |
0.354216 |
| |
0.354147 |
| |
0.354144 |
| |
0.354047 |
| |
0.353989 |
| |
0.353947 |
| |
0.353917 |
| |
0.353901 |
| |
0.353857 |
| |
0.353835 |
| |
0.353830 |
| |
0.353816 |
| |
0.353681 |
| |
0.353591 |
| |
0.353589 |
| |
0.353454 |
| |
0.353451 |
| |
0.353442 |
| |
0.353396 |
| |
0.353324 |
| |
0.353229 |
| |
0.353130 |
| |
0.353129 |
|
|
|
|
|
 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.
|
