|
|
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 |
| |
0.861584 |
| |
0.861137 |
| |
0.860976 |
| |
0.860868 |
| |
0.860589 |
| |
0.859960 |
| |
0.859691 |
| |
0.859319 |
| |
0.859120 |
| |
0.858995 |
| |
0.858902 |
| |
0.858781 |
| |
0.858414 |
| |
0.858287 |
| |
0.858261 |
| |
0.857987 |
| |
0.857824 |
| |
0.857806 |
| |
0.857689 |
| |
0.857250 |
| |
0.856948 |
| |
0.856934 |
| |
0.856921 |
| |
0.856812 |
| |
0.856781 |
|
|
|
|
|
 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.
|
