|
|
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 |
| |
0.403973 |
| |
0.403913 |
| |
0.403855 |
| |
0.403848 |
| |
0.403848 |
| |
0.403843 |
| |
0.403792 |
| |
0.403768 |
| |
0.403680 |
| |
0.403561 |
| |
0.403526 |
| |
0.403517 |
| |
0.403517 |
| |
0.403454 |
| |
0.403423 |
| |
0.403423 |
| |
0.403399 |
| |
0.403383 |
| |
0.403349 |
| |
0.403281 |
| |
0.403209 |
| |
0.403208 |
| |
0.403182 |
| |
0.403017 |
| |
0.403017 |
|
|
|
|
|
 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.
|
