|
|
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 |
| |
0.101322 |
| |
0.100845 |
| |
0.100599 |
| |
0.100491 |
| |
0.100297 |
| |
0.100265 |
| |
0.100265 |
| |
0.100241 |
| |
0.100022 |
| |
0.099625 |
| |
0.099494 |
| |
0.099272 |
| |
0.099224 |
| |
0.099084 |
| |
0.098504 |
| |
0.098364 |
| |
0.098278 |
| |
0.098126 |
| |
0.097623 |
| |
0.097620 |
| |
0.097213 |
| |
0.097143 |
| |
0.097025 |
| |
0.096963 |
| |
0.096931 |
|
|
|
|
|
 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.
|
