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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.
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| Symbol | Correlation |
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1.000000 |
| |
0.999964 |
| |
0.999693 |
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0.998907 |
| |
0.998850 |
| |
0.998814 |
| |
0.998756 |
| |
0.998590 |
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0.998453 |
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0.995107 |
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0.994087 |
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0.993521 |
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0.957782 |
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0.951683 |
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0.951630 |
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0.949737 |
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0.946748 |
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0.945479 |
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0.945145 |
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0.942834 |
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0.941711 |
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0.941266 |
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0.941266 |
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0.940085 |
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0.939709 |
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 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.
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