|
|
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 |
| |
0.308723 |
| |
0.308692 |
| |
0.308618 |
| |
0.308611 |
| |
0.308609 |
| |
0.308606 |
| |
0.308581 |
| |
0.308543 |
| |
0.308441 |
| |
0.308421 |
| |
0.308362 |
| |
0.308268 |
| |
0.308266 |
| |
0.308226 |
| |
0.308147 |
| |
0.308030 |
| |
0.307863 |
| |
0.307584 |
| |
0.307517 |
| |
0.307416 |
| |
0.307298 |
| |
0.307178 |
| |
0.307178 |
| |
0.307072 |
| |
0.307055 |
|
|
|
|
|
 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.
|
