|
|
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 |
| |
0.140360 |
| |
0.140293 |
| |
0.140291 |
| |
0.139891 |
| |
0.139683 |
| |
0.139576 |
| |
0.139505 |
| |
0.139330 |
| |
0.139310 |
| |
0.139310 |
| |
0.139310 |
| |
0.139263 |
| |
0.139053 |
| |
0.138861 |
| |
0.138820 |
| |
0.138817 |
| |
0.138738 |
| |
0.138726 |
| |
0.138658 |
| |
0.138658 |
| |
0.138560 |
| |
0.138511 |
| |
0.138452 |
| |
0.138430 |
| |
0.138319 |
|
|
|
|
|
 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.
|
