|
|
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 |
| |
0.263208 |
| |
0.262957 |
| |
0.262957 |
| |
0.262937 |
| |
0.262907 |
| |
0.262846 |
| |
0.262818 |
| |
0.262622 |
| |
0.262599 |
| |
0.262372 |
| |
0.262320 |
| |
0.262209 |
| |
0.261691 |
| |
0.261575 |
| |
0.261571 |
| |
0.261252 |
| |
0.261123 |
| |
0.260904 |
| |
0.260706 |
| |
0.260562 |
| |
0.260209 |
| |
0.260061 |
| |
0.259959 |
| |
0.259951 |
| |
0.259769 |
|
|
|
|
|
 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.
|
