|
|
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 |
| |
0.327583 |
| |
0.327489 |
| |
0.327464 |
| |
0.327359 |
| |
0.327286 |
| |
0.327261 |
| |
0.327246 |
| |
0.327161 |
| |
0.327102 |
| |
0.327088 |
| |
0.327072 |
| |
0.327046 |
| |
0.326974 |
| |
0.326944 |
| |
0.326923 |
| |
0.326818 |
| |
0.326812 |
| |
0.326789 |
| |
0.326782 |
| |
0.326779 |
| |
0.326643 |
| |
0.326506 |
| |
0.326432 |
| |
0.326403 |
| |
0.326306 |
|
|
|
|
|
 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.
|
