|
|
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 |
| |
0.372983 |
| |
0.372976 |
| |
0.372869 |
| |
0.372849 |
| |
0.372849 |
| |
0.372825 |
| |
0.372786 |
| |
0.372786 |
| |
0.372687 |
| |
0.372593 |
| |
0.372502 |
| |
0.372490 |
| |
0.372447 |
| |
0.372227 |
| |
0.372224 |
| |
0.372124 |
| |
0.372032 |
| |
0.372000 |
| |
0.371987 |
| |
0.371801 |
| |
0.371781 |
| |
0.371721 |
| |
0.371715 |
| |
0.371601 |
| |
0.371594 |
|
|
|
|
|
 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.
|
