|
|
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 |
| |
0.025679 |
| |
0.025662 |
| |
0.025086 |
| |
0.024144 |
| |
0.024139 |
| |
0.023711 |
| |
0.023604 |
| |
0.023585 |
| |
0.023487 |
| |
0.023486 |
| |
0.023392 |
| |
0.023169 |
| |
0.023152 |
| |
0.022672 |
| |
0.022633 |
| |
0.022602 |
| |
0.022363 |
| |
0.022271 |
| |
0.022220 |
| |
0.022219 |
| |
0.021515 |
| |
0.021397 |
| |
0.021344 |
| |
0.021306 |
| |
0.021156 |
|
|
|
|
|
 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.
|
