Correlation coefficient stock vs NIFTY – 5min table

Correlation coefficient or mathematically speaking auto-correlation tells the strength of positive or negative relationship of the price movement between two instruments, this comparison is valid for Index-component, or stock-commodity for almost everything.

A positively high value of coefficient means stock tends to rise if the index goes up whereas a high negative value means stock loses value if index goes up, in either case, a near zero value means, there is not much relationship exist between the two instruments.

Below is the list of some commonly traded stocks Correlation coefficient;

Relationship wrt NIFTY, timeframe=300s

ASIANPAINT-EQ 0.0906 30/05/2019 19/06/2019
AUROPHARMA-EQ 0.0580 30/05/2019 19/06/2019
AXISBANK-EQ 0.0796 30/05/2019 19/06/2019
BAJFINANCE-EQ 0.3252 30/05/2019 19/06/2019
BANKNIFTY 3.0738 30/05/2019 19/06/2019
BHARTIARTL-EQ 0.0263 30/05/2019 19/06/2019
BIOCON-EQ 0.0199 30/05/2019 19/06/2019
BPCL-EQ 0.0359 30/05/2019 19/06/2019
DABUR-EQ 0.0163 30/05/2019 19/06/2019
DRREDDY-EQ 0.1857 30/05/2019 19/06/2019
GODREJCP-EQ 0.0495 30/05/2019 19/06/2019
GRASIM-EQ 0.0695 30/05/2019 19/06/2019
HCLTECH-EQ 0.0761 30/05/2019 19/06/2019
HDFCBANK-EQ 0.1588 30/05/2019 19/06/2019
HINDUNILVR-EQ 0.1104 30/05/2019 19/06/2019
IBULHSGFIN-EQ 0.1685 30/05/2019 19/06/2019
ICICIBANK-EQ 0.0435 30/05/2019 19/06/2019
INDUSINDBK-EQ 0.2849 30/05/2019 19/06/2019
INFY-EQ 0.0340 30/05/2019 19/06/2019
JETAIRWAYS-EQ 0.0082 30/05/2019 19/06/2019
JUBLFOOD-EQ 0.1052 30/05/2019 19/06/2019
KOTAKBANK-EQ 0.1469 30/05/2019 19/06/2019
LICHSGFIN-EQ 0.0441 30/05/2019 19/06/2019
LT-EQ 0.1035 30/05/2019 19/06/2019
LUPIN-EQ 0.0571 30/05/2019 19/06/2019
M&M-EQ 0.0614 30/05/2019 19/06/2019
NIFTY19JUNFUT 0.8469 17/06/2019 19/06/2019
RELIANCE-EQ 0.1472 30/05/2019 19/06/2019
SBIN-EQ 0.0426 30/05/2019 19/06/2019
SRTRANSFIN-EQ 0.1917 30/05/2019 19/06/2019
SUNPHARMA-EQ 0.0330 30/05/2019 19/06/2019
TATASTEEL-EQ 0.0492 30/05/2019 19/06/2019
TCS-EQ 0.1588 30/05/2019 19/06/2019
TECHM-EQ 0.0388 30/05/2019 19/06/2019
TITAN-EQ 0.0957 30/05/2019 19/06/2019
UPL-EQ 0.0607 30/05/2019 19/06/2019
WIPRO-EQ 0.0072 30/05/2019 19/06/2019
YESBANK-EQ 0.0274 30/05/2019 19/06/2019
ZEEL-EQ 0.0431 30/05/2019 19/06/2019

Leave a Reply