|
|
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 |
| |
0.663171 |
| |
0.663019 |
| |
0.662564 |
| |
0.662452 |
| |
0.662311 |
| |
0.661224 |
| |
0.659240 |
| |
0.658716 |
| |
0.658470 |
| |
0.658400 |
| |
0.658006 |
| |
0.657945 |
| |
0.657342 |
| |
0.656683 |
| |
0.655625 |
| |
0.655484 |
| |
0.655326 |
| |
0.654927 |
| |
0.654615 |
| |
0.654477 |
| |
0.653658 |
| |
0.653302 |
| |
0.652975 |
| |
0.652432 |
| |
0.651823 |
|
|
|
|
|
 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.
|
