|
|
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 |
| |
0.008087 |
| |
0.007850 |
| |
0.007849 |
| |
0.007849 |
| |
0.007756 |
| |
0.007692 |
| |
0.007626 |
| |
0.007367 |
| |
0.007350 |
| |
0.007311 |
| |
0.007257 |
| |
0.007257 |
| |
0.007202 |
| |
0.007103 |
| |
0.006890 |
| |
0.006812 |
| |
0.006480 |
| |
0.006454 |
| |
0.006244 |
| |
0.006244 |
| |
0.006231 |
| |
0.005972 |
| |
0.005869 |
| |
0.005333 |
| |
0.005193 |
|
|
|
|
|
 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.
|
