|
|
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 |
| |
0.303261 |
| |
0.303239 |
| |
0.303239 |
| |
0.303142 |
| |
0.303068 |
| |
0.303054 |
| |
0.302977 |
| |
0.302727 |
| |
0.302727 |
| |
0.302650 |
| |
0.302650 |
| |
0.302519 |
| |
0.302519 |
| |
0.302493 |
| |
0.302348 |
| |
0.302339 |
| |
0.302339 |
| |
0.302234 |
| |
0.302189 |
| |
0.302053 |
| |
0.302053 |
| |
0.302046 |
| |
0.301963 |
| |
0.301948 |
| |
0.301948 |
|
|
|
|
|
 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.
|
