|
|
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 |
| |
0.170062 |
| |
0.169693 |
| |
0.169648 |
| |
0.169534 |
| |
0.169326 |
| |
0.169219 |
| |
0.169137 |
| |
0.169133 |
| |
0.168966 |
| |
0.168922 |
| |
0.168552 |
| |
0.168470 |
| |
0.168452 |
| |
0.168381 |
| |
0.168091 |
| |
0.168073 |
| |
0.167997 |
| |
0.167997 |
| |
0.167968 |
| |
0.167707 |
| |
0.167398 |
| |
0.167332 |
| |
0.167270 |
| |
0.167022 |
| |
0.166986 |
|
|
|
|
|
 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.
|
