|
|
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 |
| |
0.954266 |
| |
0.954207 |
| |
0.954158 |
| |
0.954071 |
| |
0.953936 |
| |
0.953936 |
| |
0.953747 |
| |
0.953655 |
| |
0.953630 |
| |
0.953624 |
| |
0.953618 |
| |
0.953561 |
| |
0.953360 |
| |
0.953261 |
| |
0.953243 |
| |
0.953164 |
| |
0.953119 |
| |
0.953046 |
| |
0.953038 |
| |
0.953038 |
| |
0.952963 |
| |
0.952912 |
| |
0.952535 |
| |
0.952506 |
| |
0.952506 |
|
|
|
|
|
 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.
|
