|
|
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 |
| |
0.241095 |
| |
0.241039 |
| |
0.240844 |
| |
0.240789 |
| |
0.240733 |
| |
0.240726 |
| |
0.240664 |
| |
0.240580 |
| |
0.240440 |
| |
0.240340 |
| |
0.240245 |
| |
0.240169 |
| |
0.240103 |
| |
0.239967 |
| |
0.239942 |
| |
0.239932 |
| |
0.239875 |
| |
0.239866 |
| |
0.239819 |
| |
0.239812 |
| |
0.239803 |
| |
0.239408 |
| |
0.239407 |
| |
0.239342 |
| |
0.239309 |
|
|
|
|
|
 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.
|
