|
|
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 |
| |
0.381693 |
| |
0.381587 |
| |
0.381375 |
| |
0.381320 |
| |
0.381320 |
| |
0.381312 |
| |
0.381261 |
| |
0.381162 |
| |
0.381135 |
| |
0.381131 |
| |
0.381097 |
| |
0.381089 |
| |
0.381089 |
| |
0.380986 |
| |
0.380969 |
| |
0.380910 |
| |
0.380882 |
| |
0.380714 |
| |
0.380660 |
| |
0.380638 |
| |
0.380610 |
| |
0.380594 |
| |
0.380532 |
| |
0.380463 |
| |
0.380460 |
|
|
|
|
|
 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.
|
