|
|
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 |
| |
0.412806 |
| |
0.412629 |
| |
0.412498 |
| |
0.412462 |
| |
0.412362 |
| |
0.412267 |
| |
0.412253 |
| |
0.412081 |
| |
0.411813 |
| |
0.411796 |
| |
0.411655 |
| |
0.411492 |
| |
0.411373 |
| |
0.411364 |
| |
0.411337 |
| |
0.411296 |
| |
0.411217 |
| |
0.411001 |
| |
0.410942 |
| |
0.410693 |
| |
0.410619 |
| |
0.410424 |
| |
0.410203 |
| |
0.410137 |
| |
0.409866 |
|
|
|
|
|
 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.
|
