|
|
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 |
| |
0.361462 |
| |
0.361443 |
| |
0.361423 |
| |
0.361414 |
| |
0.361408 |
| |
0.361396 |
| |
0.361393 |
| |
0.361309 |
| |
0.361302 |
| |
0.361273 |
| |
0.361179 |
| |
0.361152 |
| |
0.361006 |
| |
0.360933 |
| |
0.360887 |
| |
0.360835 |
| |
0.360805 |
| |
0.360800 |
| |
0.360785 |
| |
0.360785 |
| |
0.360573 |
| |
0.360545 |
| |
0.360263 |
| |
0.360183 |
| |
0.360064 |
|
|
|
|
|
 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.
|
