|
|
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 |
| |
0.970894 |
| |
0.970824 |
| |
0.970718 |
| |
0.970691 |
| |
0.970655 |
| |
0.970600 |
| |
0.970525 |
| |
0.970505 |
| |
0.970467 |
| |
0.970450 |
| |
0.970371 |
| |
0.970330 |
| |
0.970239 |
| |
0.970228 |
| |
0.970130 |
| |
0.969804 |
| |
0.969776 |
| |
0.969688 |
| |
0.969675 |
| |
0.969663 |
| |
0.969625 |
| |
0.969601 |
| |
0.969572 |
| |
0.969509 |
| |
0.969482 |
|
|
|
|
|
 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.
|
