|
|
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 |
| |
0.270572 |
| |
0.270251 |
| |
0.270185 |
| |
0.270122 |
| |
0.270078 |
| |
0.269913 |
| |
0.269757 |
| |
0.269618 |
| |
0.269563 |
| |
0.269438 |
| |
0.269265 |
| |
0.269180 |
| |
0.268969 |
| |
0.268914 |
| |
0.268914 |
| |
0.268869 |
| |
0.268812 |
| |
0.268745 |
| |
0.268611 |
| |
0.268537 |
| |
0.268492 |
| |
0.268477 |
| |
0.268462 |
| |
0.268444 |
| |
0.268260 |
|
|
|
|
|
 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.
|
