|
|
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 |
| |
0.878849 |
| |
0.877929 |
| |
0.877256 |
| |
0.874417 |
| |
0.874180 |
| |
0.873643 |
| |
0.872984 |
| |
0.872733 |
| |
0.872653 |
| |
0.872548 |
| |
0.872546 |
| |
0.871564 |
| |
0.871557 |
| |
0.871311 |
| |
0.871170 |
| |
0.870934 |
| |
0.869789 |
| |
0.869487 |
| |
0.869373 |
| |
0.869356 |
| |
0.869074 |
| |
0.869019 |
| |
0.868997 |
| |
0.868721 |
| |
0.868584 |
|
|
|
|
|
 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.
|
