|
|
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 |
| |
0.043506 |
| |
0.043506 |
| |
0.043504 |
| |
0.043504 |
| |
0.043275 |
| |
0.043195 |
| |
0.043191 |
| |
0.043181 |
| |
0.043021 |
| |
0.042917 |
| |
0.042773 |
| |
0.042683 |
| |
0.042586 |
| |
0.042404 |
| |
0.042290 |
| |
0.042283 |
| |
0.042229 |
| |
0.042119 |
| |
0.042119 |
| |
0.042099 |
| |
0.041967 |
| |
0.041967 |
| |
0.041963 |
| |
0.041871 |
| |
0.041625 |
|
|
|
|
|
 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.
|
