|
|
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 |
| |
0.556499 |
| |
0.554983 |
| |
0.554714 |
| |
0.554351 |
| |
0.554332 |
| |
0.554225 |
| |
0.554117 |
| |
0.553361 |
| |
0.553124 |
| |
0.552841 |
| |
0.552731 |
| |
0.552559 |
| |
0.552263 |
| |
0.552112 |
| |
0.551916 |
| |
0.551662 |
| |
0.551124 |
| |
0.550679 |
| |
0.550391 |
| |
0.550054 |
| |
0.549653 |
| |
0.549576 |
| |
0.549523 |
| |
0.549021 |
| |
0.548598 |
|
|
|
|
|
 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.
|
