|
|
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 |
| |
0.915139 |
| |
0.915124 |
| |
0.914922 |
| |
0.914906 |
| |
0.914888 |
| |
0.914714 |
| |
0.914586 |
| |
0.914474 |
| |
0.914180 |
| |
0.914037 |
| |
0.913942 |
| |
0.913826 |
| |
0.913777 |
| |
0.913745 |
| |
0.913703 |
| |
0.913562 |
| |
0.913443 |
| |
0.913346 |
| |
0.913214 |
| |
0.913213 |
| |
0.912764 |
| |
0.912677 |
| |
0.912665 |
| |
0.912649 |
| |
0.912625 |
|
|
|
|
|
 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.
|
