|
|
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 |
| |
0.832623 |
| |
0.832139 |
| |
0.831066 |
| |
0.830719 |
| |
0.830570 |
| |
0.829822 |
| |
0.829049 |
| |
0.829035 |
| |
0.828985 |
| |
0.828641 |
| |
0.828523 |
| |
0.828441 |
| |
0.828297 |
| |
0.828151 |
| |
0.827804 |
| |
0.827206 |
| |
0.826915 |
| |
0.826909 |
| |
0.826445 |
| |
0.826395 |
| |
0.825992 |
| |
0.825502 |
| |
0.823923 |
| |
0.823390 |
| |
0.822798 |
|
|
|
|
|
 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.
|
