|
|
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 |
| |
0.064169 |
| |
0.064135 |
| |
0.064095 |
| |
0.064094 |
| |
0.063924 |
| |
0.063854 |
| |
0.063756 |
| |
0.063750 |
| |
0.063684 |
| |
0.063680 |
| |
0.063389 |
| |
0.062776 |
| |
0.062776 |
| |
0.061437 |
| |
0.061019 |
| |
0.060974 |
| |
0.060094 |
| |
0.060024 |
| |
0.059738 |
| |
0.059639 |
| |
0.059483 |
| |
0.059375 |
| |
0.059317 |
| |
0.059001 |
| |
0.058705 |
|
|
|
|
|
 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.
|
