|
|
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 |
| |
0.116901 |
| |
0.116887 |
| |
0.116833 |
| |
0.116833 |
| |
0.116821 |
| |
0.116817 |
| |
0.116804 |
| |
0.116774 |
| |
0.116771 |
| |
0.116696 |
| |
0.116648 |
| |
0.116605 |
| |
0.116439 |
| |
0.116408 |
| |
0.116408 |
| |
0.116397 |
| |
0.116322 |
| |
0.116275 |
| |
0.116152 |
| |
0.116126 |
| |
0.116094 |
| |
0.116063 |
| |
0.115972 |
| |
0.115970 |
| |
0.115916 |
|
|
|
|
|
 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.
|
