|
|
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 |
| |
0.292829 |
| |
0.292754 |
| |
0.292378 |
| |
0.292279 |
| |
0.292150 |
| |
0.292035 |
| |
0.291957 |
| |
0.291860 |
| |
0.291772 |
| |
0.291665 |
| |
0.291629 |
| |
0.291570 |
| |
0.291247 |
| |
0.291244 |
| |
0.291219 |
| |
0.291178 |
| |
0.290953 |
| |
0.290883 |
| |
0.290859 |
| |
0.290808 |
| |
0.290808 |
| |
0.290796 |
| |
0.290764 |
| |
0.290663 |
| |
0.290475 |
|
|
|
|
|
 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.
|
