|
|
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 |
| |
0.300824 |
| |
0.300172 |
| |
0.300060 |
| |
0.299971 |
| |
0.299854 |
| |
0.299789 |
| |
0.299784 |
| |
0.299253 |
| |
0.298995 |
| |
0.298595 |
| |
0.298520 |
| |
0.298507 |
| |
0.298186 |
| |
0.297876 |
| |
0.297822 |
| |
0.297549 |
| |
0.297330 |
| |
0.297149 |
| |
0.297011 |
| |
0.296990 |
| |
0.296906 |
| |
0.296898 |
| |
0.296898 |
| |
0.296880 |
| |
0.296836 |
|
|
|
|
|
 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.
|
