|
|
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 |
| |
0.788228 |
| |
0.786786 |
| |
0.785586 |
| |
0.785292 |
| |
0.782207 |
| |
0.782026 |
| |
0.781791 |
| |
0.780735 |
| |
0.780240 |
| |
0.780216 |
| |
0.779663 |
| |
0.779194 |
| |
0.777854 |
| |
0.777543 |
| |
0.776105 |
| |
0.775704 |
| |
0.774865 |
| |
0.774191 |
| |
0.773900 |
| |
0.773678 |
| |
0.773229 |
| |
0.773156 |
| |
0.773076 |
| |
0.771624 |
| |
0.771393 |
|
|
|
|
|
 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.
|
