|
|
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 |
| |
0.318951 |
| |
0.318934 |
| |
0.318920 |
| |
0.318892 |
| |
0.318886 |
| |
0.318778 |
| |
0.318766 |
| |
0.318754 |
| |
0.318754 |
| |
0.318669 |
| |
0.318669 |
| |
0.318638 |
| |
0.318617 |
| |
0.318569 |
| |
0.318555 |
| |
0.318497 |
| |
0.318450 |
| |
0.318396 |
| |
0.318382 |
| |
0.318372 |
| |
0.318257 |
| |
0.318255 |
| |
0.318238 |
| |
0.318209 |
| |
0.318142 |
|
|
|
|
|
 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.
|
