|
|
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 |
| |
0.936222 |
| |
0.936220 |
| |
0.936165 |
| |
0.936133 |
| |
0.936124 |
| |
0.936102 |
| |
0.936042 |
| |
0.936037 |
| |
0.935836 |
| |
0.935830 |
| |
0.935782 |
| |
0.935769 |
| |
0.935635 |
| |
0.935505 |
| |
0.935427 |
| |
0.935408 |
| |
0.935324 |
| |
0.935285 |
| |
0.935274 |
| |
0.935165 |
| |
0.935152 |
| |
0.935039 |
| |
0.935018 |
| |
0.935016 |
| |
0.935015 |
|
|
|
|
|
 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.
|
