|
|
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 |
| |
0.939498 |
| |
0.939471 |
| |
0.939441 |
| |
0.939355 |
| |
0.939351 |
| |
0.939324 |
| |
0.939100 |
| |
0.938932 |
| |
0.938911 |
| |
0.938732 |
| |
0.938692 |
| |
0.938288 |
| |
0.937985 |
| |
0.937911 |
| |
0.937559 |
| |
0.937521 |
| |
0.937202 |
| |
0.937171 |
| |
0.937171 |
| |
0.937044 |
| |
0.936850 |
| |
0.936824 |
| |
0.936790 |
| |
0.936766 |
| |
0.936766 |
|
|
|
|
|
 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.
|
