|
|
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 |
| |
0.800844 |
| |
0.800706 |
| |
0.800477 |
| |
0.800267 |
| |
0.800234 |
| |
0.800132 |
| |
0.799697 |
| |
0.799194 |
| |
0.799177 |
| |
0.799134 |
| |
0.798590 |
| |
0.798217 |
| |
0.798215 |
| |
0.797713 |
| |
0.797211 |
| |
0.796712 |
| |
0.796292 |
| |
0.795587 |
| |
0.795445 |
| |
0.795249 |
| |
0.795129 |
| |
0.795024 |
| |
0.794522 |
| |
0.794202 |
| |
0.794033 |
|
|
|
|
|
 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.
|
