|
|
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 |
| |
0.128885 |
| |
0.128336 |
| |
0.128214 |
| |
0.128100 |
| |
0.127814 |
| |
0.127678 |
| |
0.127671 |
| |
0.127646 |
| |
0.127613 |
| |
0.127599 |
| |
0.127544 |
| |
0.127523 |
| |
0.127408 |
| |
0.127408 |
| |
0.127247 |
| |
0.127245 |
| |
0.127245 |
| |
0.127197 |
| |
0.127089 |
| |
0.126521 |
| |
0.126470 |
| |
0.126436 |
| |
0.126373 |
| |
0.126273 |
| |
0.126184 |
|
|
|
|
|
 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.
|
