|
|
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 |
| |
0.914133 |
| |
0.913896 |
| |
0.913690 |
| |
0.913256 |
| |
0.913232 |
| |
0.912962 |
| |
0.912195 |
| |
0.911601 |
| |
0.911456 |
| |
0.911329 |
| |
0.911318 |
| |
0.911232 |
| |
0.910957 |
| |
0.910805 |
| |
0.910721 |
| |
0.910691 |
| |
0.910532 |
| |
0.910481 |
| |
0.910390 |
| |
0.910365 |
| |
0.910257 |
| |
0.910241 |
| |
0.910108 |
| |
0.909691 |
| |
0.909461 |
|
|
|
|
|
 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.
|
