|
|
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 |
| |
0.370659 |
| |
0.370659 |
| |
0.370565 |
| |
0.370565 |
| |
0.370401 |
| |
0.370401 |
| |
0.370262 |
| |
0.370262 |
| |
0.370236 |
| |
0.370196 |
| |
0.370177 |
| |
0.370107 |
| |
0.370006 |
| |
0.370006 |
| |
0.369955 |
| |
0.369782 |
| |
0.369782 |
| |
0.369685 |
| |
0.369630 |
| |
0.369607 |
| |
0.369607 |
| |
0.369534 |
| |
0.369298 |
| |
0.369298 |
| |
0.369257 |
|
|
|
|
|
 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.
|
