|
|
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 |
| |
0.946695 |
| |
0.946517 |
| |
0.946465 |
| |
0.946333 |
| |
0.946244 |
| |
0.946213 |
| |
0.946089 |
| |
0.946031 |
| |
0.945983 |
| |
0.945934 |
| |
0.945906 |
| |
0.945883 |
| |
0.945859 |
| |
0.945858 |
| |
0.945797 |
| |
0.945792 |
| |
0.945720 |
| |
0.945653 |
| |
0.945618 |
| |
0.945598 |
| |
0.945513 |
| |
0.945473 |
| |
0.945443 |
| |
0.945125 |
| |
0.944981 |
|
|
|
|
|
 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.
|
