|
|
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 |
| |
0.920039 |
| |
0.919974 |
| |
0.919927 |
| |
0.919924 |
| |
0.919821 |
| |
0.919672 |
| |
0.919638 |
| |
0.919479 |
| |
0.919449 |
| |
0.919446 |
| |
0.919069 |
| |
0.918956 |
| |
0.918918 |
| |
0.918732 |
| |
0.918598 |
| |
0.918530 |
| |
0.918511 |
| |
0.918467 |
| |
0.918442 |
| |
0.918172 |
| |
0.918139 |
| |
0.917986 |
| |
0.917954 |
| |
0.917940 |
| |
0.917935 |
|
|
|
|
|
 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.
|
