|
|
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 |
| |
0.461648 |
| |
0.461066 |
| |
0.461032 |
| |
0.460714 |
| |
0.460678 |
| |
0.460626 |
| |
0.460626 |
| |
0.460198 |
| |
0.459795 |
| |
0.459598 |
| |
0.459356 |
| |
0.456976 |
| |
0.456814 |
| |
0.456803 |
| |
0.456683 |
| |
0.456518 |
| |
0.456298 |
| |
0.456122 |
| |
0.455818 |
| |
0.455477 |
| |
0.455422 |
| |
0.454998 |
| |
0.454553 |
| |
0.453919 |
| |
0.453701 |
|
|
|
|
|
 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.
|
