|
|
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 |
| |
0.537054 |
| |
0.537025 |
| |
0.536934 |
| |
0.536898 |
| |
0.536790 |
| |
0.536711 |
| |
0.536673 |
| |
0.536671 |
| |
0.536601 |
| |
0.536548 |
| |
0.536504 |
| |
0.536429 |
| |
0.536297 |
| |
0.536243 |
| |
0.536138 |
| |
0.536024 |
| |
0.535934 |
| |
0.535812 |
| |
0.535576 |
| |
0.535268 |
| |
0.535039 |
| |
0.535033 |
| |
0.534950 |
| |
0.534871 |
| |
0.534796 |
|
|
|
|
|
 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.
|
