|
|
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 |
| |
0.950330 |
| |
0.950297 |
| |
0.950163 |
| |
0.950106 |
| |
0.950010 |
| |
0.949974 |
| |
0.949798 |
| |
0.949719 |
| |
0.949648 |
| |
0.949524 |
| |
0.949499 |
| |
0.949456 |
| |
0.949427 |
| |
0.949155 |
| |
0.948981 |
| |
0.948932 |
| |
0.948866 |
| |
0.948793 |
| |
0.948659 |
| |
0.948604 |
| |
0.948571 |
| |
0.948460 |
| |
0.948458 |
| |
0.948270 |
| |
0.948229 |
|
|
|
|
|
 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.
|
