|
|
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 |
| |
0.296704 |
| |
0.296683 |
| |
0.296579 |
| |
0.296551 |
| |
0.296054 |
| |
0.296038 |
| |
0.295994 |
| |
0.295984 |
| |
0.295972 |
| |
0.295957 |
| |
0.295953 |
| |
0.295946 |
| |
0.295838 |
| |
0.295791 |
| |
0.295774 |
| |
0.295632 |
| |
0.295623 |
| |
0.295423 |
| |
0.295365 |
| |
0.295364 |
| |
0.295321 |
| |
0.295267 |
| |
0.295112 |
| |
0.295099 |
| |
0.295090 |
|
|
|
|
|
 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.
|
