|
|
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 |
| |
0.222700 |
| |
0.222428 |
| |
0.222382 |
| |
0.222295 |
| |
0.222284 |
| |
0.222284 |
| |
0.222248 |
| |
0.222242 |
| |
0.222205 |
| |
0.222035 |
| |
0.221970 |
| |
0.221925 |
| |
0.221914 |
| |
0.221902 |
| |
0.221803 |
| |
0.221772 |
| |
0.221756 |
| |
0.221699 |
| |
0.221663 |
| |
0.221588 |
| |
0.221443 |
| |
0.221386 |
| |
0.221255 |
| |
0.221255 |
| |
0.221093 |
|
|
|
|
|
 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.
|
