|
|
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 |
| |
0.226044 |
| |
0.225918 |
| |
0.225764 |
| |
0.225731 |
| |
0.225175 |
| |
0.225139 |
| |
0.224989 |
| |
0.224899 |
| |
0.224628 |
| |
0.224614 |
| |
0.224189 |
| |
0.224127 |
| |
0.223688 |
| |
0.223070 |
| |
0.222458 |
| |
0.222000 |
| |
0.221925 |
| |
0.221902 |
| |
0.221252 |
| |
0.221063 |
| |
0.221032 |
| |
0.221018 |
| |
0.220955 |
| |
0.220946 |
| |
0.220803 |
|
|
|
|
|
 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.
|
