|
|
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 |
| |
0.939130 |
| |
0.939100 |
| |
0.939032 |
| |
0.938994 |
| |
0.938971 |
| |
0.938922 |
| |
0.938912 |
| |
0.938787 |
| |
0.938766 |
| |
0.938747 |
| |
0.938718 |
| |
0.938678 |
| |
0.938572 |
| |
0.938460 |
| |
0.938381 |
| |
0.938372 |
| |
0.938202 |
| |
0.938174 |
| |
0.938148 |
| |
0.937989 |
| |
0.937921 |
| |
0.937913 |
| |
0.937911 |
| |
0.937759 |
| |
0.937692 |
|
|
|
|
|
 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.
|
