|
|
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 |
| |
0.321868 |
| |
0.321868 |
| |
0.321801 |
| |
0.321601 |
| |
0.321541 |
| |
0.321541 |
| |
0.321540 |
| |
0.321482 |
| |
0.321405 |
| |
0.321284 |
| |
0.321266 |
| |
0.321151 |
| |
0.321075 |
| |
0.320815 |
| |
0.320815 |
| |
0.320684 |
| |
0.320638 |
| |
0.320488 |
| |
0.320488 |
| |
0.320357 |
| |
0.320251 |
| |
0.320223 |
| |
0.319982 |
| |
0.319980 |
| |
0.319949 |
|
|
|
|
|
 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.
|
