|
|
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 |
| |
0.451298 |
| |
0.451258 |
| |
0.451163 |
| |
0.451163 |
| |
0.451135 |
| |
0.451006 |
| |
0.450933 |
| |
0.450933 |
| |
0.450929 |
| |
0.450870 |
| |
0.450782 |
| |
0.450726 |
| |
0.450711 |
| |
0.450662 |
| |
0.450613 |
| |
0.450391 |
| |
0.450314 |
| |
0.450314 |
| |
0.450126 |
| |
0.450126 |
| |
0.450114 |
| |
0.450100 |
| |
0.450100 |
| |
0.450031 |
| |
0.450031 |
|
|
|
|
|
 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.
|
