|
|
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 |
| |
0.361540 |
| |
0.361455 |
| |
0.361455 |
| |
0.361296 |
| |
0.361268 |
| |
0.361222 |
| |
0.361176 |
| |
0.360968 |
| |
0.360968 |
| |
0.360966 |
| |
0.360850 |
| |
0.360850 |
| |
0.360775 |
| |
0.360434 |
| |
0.360434 |
| |
0.360339 |
| |
0.360267 |
| |
0.360214 |
| |
0.360143 |
| |
0.360116 |
| |
0.360115 |
| |
0.360009 |
| |
0.360009 |
| |
0.359959 |
| |
0.359744 |
|
|
|
|
|
 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.
|
