|
|
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 |
| |
0.331736 |
| |
0.331736 |
| |
0.331627 |
| |
0.331621 |
| |
0.331513 |
| |
0.331424 |
| |
0.331423 |
| |
0.331068 |
| |
0.330932 |
| |
0.330665 |
| |
0.330599 |
| |
0.330298 |
| |
0.330179 |
| |
0.330030 |
| |
0.329964 |
| |
0.329899 |
| |
0.329407 |
| |
0.328979 |
| |
0.328800 |
| |
0.328624 |
| |
0.328523 |
| |
0.328102 |
| |
0.327746 |
| |
0.327727 |
| |
0.327624 |
|
|
|
|
|
 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.
|
