ToolsForNerds

Asset Correlation Checker

Analyze correlation between stocks, ETFs, and assets to build diversified portfolios and manage risk

No assets selected. Search and add assets to begin.

Asset Statistics

Statistics will appear here after calculation

Correlation Matrix

Correlation matrix will appear here after calculation

How to Use

  1. Search for assets using ticker symbols or company names
  2. Add 2 or more assets to compare (up to 10)
  3. Select your desired time period
  4. Click "Calculate Correlations" to analyze
  5. Review the correlation matrix and statistics
  6. Hover over the ? icons to learn what each metric means
Note: This tool uses daily closing prices to calculate correlations. Data is provided by Yahoo Finance. For best results, use liquid assets with consistent trading history. Correlations can change over time and past correlation does not guarantee future correlation.

About the Asset Correlation Checker

Analyze the correlation between stocks, ETFs, and other financial assets. Understand how different investments move in relation to each other to build a diversified portfolio and manage risk effectively.

Features:

  • Search and add multiple assets (stocks, ETFs, indices)
  • Calculate Pearson correlation coefficients
  • Multiple time periods (1 month to 5 years)
  • Visual correlation matrix with color coding
  • Detailed statistics for each asset pair
  • Support for global markets and exchanges

Understanding Correlation:

  • +1.0: Perfect positive correlation (move together)
  • 0.0: No correlation (independent movements)
  • -1.0: Perfect negative correlation (move opposite)
  • 0.7 to 1.0: Strong positive correlation
  • 0.3 to 0.7: Moderate positive correlation
  • -0.3 to 0.3: Weak or no correlation

Use Cases:

  • Portfolio diversification analysis
  • Risk management and hedging strategies
  • Identifying correlated market sectors
  • Pairs trading opportunities
  • Asset allocation decisions
  • Market research and analysis

Supported Assets:

  • US stocks (NASDAQ, NYSE, AMEX)
  • International stocks (LSE, TSE, HKG, etc.)
  • ETFs and index funds
  • Major indices (S&P 500, NASDAQ, etc.)