|
|
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 |
| |
0.578951 |
| |
0.578924 |
| |
0.578901 |
| |
0.578821 |
| |
0.578807 |
| |
0.578805 |
| |
0.578802 |
| |
0.578802 |
| |
0.578794 |
| |
0.578769 |
| |
0.578710 |
| |
0.578686 |
| |
0.578685 |
| |
0.578632 |
| |
0.578580 |
| |
0.578580 |
| |
0.578507 |
| |
0.578459 |
| |
0.578434 |
| |
0.578402 |
| |
0.578368 |
| |
0.578321 |
| |
0.578273 |
| |
0.578273 |
| |
0.578217 |
|
|
|
|
|
 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.
|
