|
|
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 |
| |
0.345043 |
| |
0.345021 |
| |
0.345008 |
| |
0.344906 |
| |
0.344860 |
| |
0.344797 |
| |
0.344796 |
| |
0.344735 |
| |
0.344725 |
| |
0.344714 |
| |
0.344661 |
| |
0.344531 |
| |
0.344310 |
| |
0.344228 |
| |
0.344223 |
| |
0.344196 |
| |
0.344196 |
| |
0.344193 |
| |
0.344169 |
| |
0.344131 |
| |
0.344089 |
| |
0.344075 |
| |
0.343753 |
| |
0.343693 |
| |
0.343558 |
|
|
|
|
|
 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.
|
