|
|
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 |
| |
0.001591 |
| |
0.001425 |
| |
0.001407 |
| |
0.001117 |
| |
0.001090 |
| |
0.001025 |
| |
0.001012 |
| |
0.000955 |
| |
0.000864 |
| |
0.000864 |
| |
0.000854 |
| |
0.000681 |
| |
0.000536 |
| |
0.000263 |
| |
0.000139 |
| |
-0.000349 |
| |
-0.000807 |
| |
-0.001059 |
| |
-0.001220 |
| |
-0.001437 |
| |
-0.001709 |
| |
-0.002036 |
| |
-0.002209 |
| |
-0.002550 |
| |
-0.002619 |
|
|
|
|
|
 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.
|
