|
|
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 |
| |
0.200951 |
| |
0.200932 |
| |
0.200932 |
| |
0.200894 |
| |
0.200671 |
| |
0.200545 |
| |
0.200545 |
| |
0.200388 |
| |
0.200353 |
| |
0.200150 |
| |
0.200110 |
| |
0.200014 |
| |
0.199959 |
| |
0.199878 |
| |
0.199731 |
| |
0.199633 |
| |
0.199320 |
| |
0.199288 |
| |
0.199200 |
| |
0.199162 |
| |
0.198815 |
| |
0.198815 |
| |
0.198726 |
| |
0.198714 |
| |
0.198710 |
|
|
|
|
|
 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.
|
