|
|
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 |
| |
0.365659 |
| |
0.365612 |
| |
0.365565 |
| |
0.365445 |
| |
0.365425 |
| |
0.365424 |
| |
0.365418 |
| |
0.365376 |
| |
0.365360 |
| |
0.365360 |
| |
0.365347 |
| |
0.365328 |
| |
0.365324 |
| |
0.365246 |
| |
0.365218 |
| |
0.365191 |
| |
0.365187 |
| |
0.365169 |
| |
0.365072 |
| |
0.365072 |
| |
0.365042 |
| |
0.365040 |
| |
0.365016 |
| |
0.365008 |
| |
0.364996 |
|
|
|
|
|
 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.
|
