|
|
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 |
| |
0.387287 |
| |
0.387251 |
| |
0.387046 |
| |
0.386889 |
| |
0.386775 |
| |
0.386673 |
| |
0.386628 |
| |
0.386628 |
| |
0.386622 |
| |
0.386496 |
| |
0.386436 |
| |
0.386388 |
| |
0.386388 |
| |
0.386381 |
| |
0.386381 |
| |
0.386372 |
| |
0.386252 |
| |
0.386120 |
| |
0.386117 |
| |
0.386037 |
| |
0.386037 |
| |
0.385985 |
| |
0.385985 |
| |
0.385963 |
| |
0.385939 |
|
|
|
|
|
 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.
|
