|
|
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 |
| |
0.729210 |
| |
0.729154 |
| |
0.728850 |
| |
0.728787 |
| |
0.728686 |
| |
0.728365 |
| |
0.728277 |
| |
0.728277 |
| |
0.727868 |
| |
0.727342 |
| |
0.727221 |
| |
0.726271 |
| |
0.726238 |
| |
0.725938 |
| |
0.725924 |
| |
0.725575 |
| |
0.725343 |
| |
0.725253 |
| |
0.724187 |
| |
0.724109 |
| |
0.723944 |
| |
0.723944 |
| |
0.723649 |
| |
0.723131 |
| |
0.722482 |
|
|
|
|
|
 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.
|
