|
|
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 |
| |
0.546397 |
| |
0.546284 |
| |
0.545375 |
| |
0.545153 |
| |
0.545147 |
| |
0.545146 |
| |
0.544960 |
| |
0.544915 |
| |
0.544549 |
| |
0.544518 |
| |
0.544481 |
| |
0.544411 |
| |
0.544393 |
| |
0.544347 |
| |
0.544309 |
| |
0.544305 |
| |
0.544251 |
| |
0.544249 |
| |
0.544137 |
| |
0.544057 |
| |
0.543908 |
| |
0.543802 |
| |
0.543695 |
| |
0.543678 |
| |
0.543452 |
|
|
|
|
|
 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.
|
