|
|
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 |
| |
0.576207 |
| |
0.576169 |
| |
0.576068 |
| |
0.575940 |
| |
0.575928 |
| |
0.575904 |
| |
0.575878 |
| |
0.575865 |
| |
0.575865 |
| |
0.575864 |
| |
0.575855 |
| |
0.575841 |
| |
0.575834 |
| |
0.575832 |
| |
0.575782 |
| |
0.575726 |
| |
0.575726 |
| |
0.575719 |
| |
0.575685 |
| |
0.575597 |
| |
0.575585 |
| |
0.575583 |
| |
0.575579 |
| |
0.575578 |
| |
0.575515 |
|
|
|
|
|
 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.
|
