|
|
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 |
| |
0.022479 |
| |
0.022384 |
| |
0.022045 |
| |
0.021796 |
| |
0.021437 |
| |
0.021336 |
| |
0.021117 |
| |
0.021053 |
| |
0.020652 |
| |
0.020597 |
| |
0.020493 |
| |
0.020291 |
| |
0.020243 |
| |
0.020219 |
| |
0.019863 |
| |
0.019171 |
| |
0.019068 |
| |
0.018695 |
| |
0.018329 |
| |
0.018303 |
| |
0.017960 |
| |
0.017874 |
| |
0.017653 |
| |
0.017505 |
| |
0.017500 |
|
|
|
|
|
 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.
|
