|
|
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 |
| |
0.938207 |
| |
0.938152 |
| |
0.937806 |
| |
0.937773 |
| |
0.937739 |
| |
0.937739 |
| |
0.937531 |
| |
0.937392 |
| |
0.937373 |
| |
0.937013 |
| |
0.936892 |
| |
0.936891 |
| |
0.936774 |
| |
0.936501 |
| |
0.936283 |
| |
0.936052 |
| |
0.935969 |
| |
0.935966 |
| |
0.935937 |
| |
0.935769 |
| |
0.935676 |
| |
0.935646 |
| |
0.935440 |
| |
0.935375 |
| |
0.935334 |
|
|
|
|
|
 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.
|
