|
|
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 |
| |
0.811628 |
| |
0.811583 |
| |
0.811522 |
| |
0.811227 |
| |
0.811219 |
| |
0.810257 |
| |
0.810179 |
| |
0.810137 |
| |
0.810127 |
| |
0.810113 |
| |
0.809030 |
| |
0.808996 |
| |
0.808940 |
| |
0.808395 |
| |
0.808312 |
| |
0.808109 |
| |
0.808049 |
| |
0.807496 |
| |
0.807435 |
| |
0.807027 |
| |
0.806978 |
| |
0.806766 |
| |
0.806562 |
| |
0.806549 |
| |
0.806512 |
|
|
|
|
|
 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.
|
