|
|
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 |
| |
0.161914 |
| |
0.161914 |
| |
0.161874 |
| |
0.161872 |
| |
0.161821 |
| |
0.161750 |
| |
0.161722 |
| |
0.161621 |
| |
0.161506 |
| |
0.161453 |
| |
0.161453 |
| |
0.161444 |
| |
0.161412 |
| |
0.161390 |
| |
0.161301 |
| |
0.161282 |
| |
0.161120 |
| |
0.161024 |
| |
0.160807 |
| |
0.160713 |
| |
0.160469 |
| |
0.160176 |
| |
0.159845 |
| |
0.159827 |
| |
0.159802 |
|
|
|
|
|
 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.
|
