|
|
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 |
| |
0.079299 |
| |
0.079238 |
| |
0.079038 |
| |
0.078858 |
| |
0.078670 |
| |
0.078622 |
| |
0.078617 |
| |
0.078171 |
| |
0.078052 |
| |
0.077763 |
| |
0.077342 |
| |
0.077328 |
| |
0.077270 |
| |
0.077076 |
| |
0.076953 |
| |
0.076825 |
| |
0.076153 |
| |
0.076135 |
| |
0.076119 |
| |
0.076119 |
| |
0.076014 |
| |
0.075296 |
| |
0.074645 |
| |
0.074637 |
| |
0.074278 |
|
|
|
|
|
 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.
|
