|
|
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 |
| |
0.770982 |
| |
0.770057 |
| |
0.769719 |
| |
0.767945 |
| |
0.767691 |
| |
0.767452 |
| |
0.766269 |
| |
0.766212 |
| |
0.765771 |
| |
0.765539 |
| |
0.763857 |
| |
0.763051 |
| |
0.762697 |
| |
0.762423 |
| |
0.762033 |
| |
0.761936 |
| |
0.761080 |
| |
0.760416 |
| |
0.760409 |
| |
0.760277 |
| |
0.760262 |
| |
0.759285 |
| |
0.758463 |
| |
0.758142 |
| |
0.757918 |
|
|
|
|
|
 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.
|
