|
|
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 |
| |
0.122132 |
| |
0.121888 |
| |
0.121859 |
| |
0.121692 |
| |
0.121589 |
| |
0.121427 |
| |
0.121253 |
| |
0.120923 |
| |
0.119840 |
| |
0.119636 |
| |
0.119054 |
| |
0.118882 |
| |
0.118678 |
| |
0.118632 |
| |
0.118348 |
| |
0.117751 |
| |
0.117614 |
| |
0.117473 |
| |
0.117458 |
| |
0.117437 |
| |
0.117327 |
| |
0.117135 |
| |
0.116727 |
| |
0.116566 |
| |
0.116487 |
|
|
|
|
|
 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.
|
