|
|
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 |
| |
0.256585 |
| |
0.256548 |
| |
0.256548 |
| |
0.256530 |
| |
0.256413 |
| |
0.256344 |
| |
0.256263 |
| |
0.256128 |
| |
0.256095 |
| |
0.256060 |
| |
0.256060 |
| |
0.255946 |
| |
0.255712 |
| |
0.255555 |
| |
0.255547 |
| |
0.255547 |
| |
0.255446 |
| |
0.255393 |
| |
0.255379 |
| |
0.255249 |
| |
0.254983 |
| |
0.254869 |
| |
0.254851 |
| |
0.254726 |
| |
0.254724 |
|
|
|
|
|
 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.
|
