|
|
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 |
| |
0.932853 |
| |
0.932844 |
| |
0.932578 |
| |
0.932438 |
| |
0.932372 |
| |
0.931828 |
| |
0.931824 |
| |
0.931625 |
| |
0.931569 |
| |
0.931523 |
| |
0.931386 |
| |
0.931254 |
| |
0.931205 |
| |
0.931166 |
| |
0.931148 |
| |
0.931121 |
| |
0.931117 |
| |
0.931098 |
| |
0.931058 |
| |
0.931018 |
| |
0.931010 |
| |
0.931001 |
| |
0.930826 |
| |
0.930630 |
| |
0.930525 |
|
|
|
|
|
 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.
|
