|
|
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 |
| |
0.836210 |
| |
0.836171 |
| |
0.835655 |
| |
0.835638 |
| |
0.835405 |
| |
0.835258 |
| |
0.833677 |
| |
0.833215 |
| |
0.832003 |
| |
0.831933 |
| |
0.830769 |
| |
0.829754 |
| |
0.829249 |
| |
0.829069 |
| |
0.825017 |
| |
0.824732 |
| |
0.823810 |
| |
0.823069 |
| |
0.821179 |
| |
0.819141 |
| |
0.818876 |
| |
0.818184 |
| |
0.818146 |
| |
0.817893 |
| |
0.816437 |
|
|
|
|
|
 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.
|
