|
|
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 |
| |
0.946880 |
| |
0.946847 |
| |
0.946793 |
| |
0.946751 |
| |
0.946706 |
| |
0.946640 |
| |
0.946609 |
| |
0.946494 |
| |
0.946421 |
| |
0.946240 |
| |
0.946108 |
| |
0.945883 |
| |
0.945862 |
| |
0.945836 |
| |
0.945789 |
| |
0.945750 |
| |
0.945716 |
| |
0.945625 |
| |
0.945609 |
| |
0.945579 |
| |
0.945539 |
| |
0.945512 |
| |
0.945428 |
| |
0.945338 |
| |
0.945312 |
|
|
|
|
|
 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.
|
