|
|
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 |
| |
0.404727 |
| |
0.404209 |
| |
0.404185 |
| |
0.404185 |
| |
0.404133 |
| |
0.404015 |
| |
0.403960 |
| |
0.403895 |
| |
0.403756 |
| |
0.403648 |
| |
0.403639 |
| |
0.403544 |
| |
0.403377 |
| |
0.403326 |
| |
0.403174 |
| |
0.403136 |
| |
0.402836 |
| |
0.402569 |
| |
0.402494 |
| |
0.402383 |
| |
0.402259 |
| |
0.402259 |
| |
0.401995 |
| |
0.401467 |
| |
0.401467 |
|
|
|
|
|
 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.
|
