|
|
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 |
| |
0.920884 |
| |
0.920627 |
| |
0.920208 |
| |
0.920169 |
| |
0.920130 |
| |
0.920011 |
| |
0.919542 |
| |
0.919542 |
| |
0.918504 |
| |
0.918443 |
| |
0.918191 |
| |
0.917999 |
| |
0.917831 |
| |
0.917698 |
| |
0.917692 |
| |
0.917457 |
| |
0.917268 |
| |
0.917099 |
| |
0.916811 |
| |
0.916648 |
| |
0.916366 |
| |
0.916207 |
| |
0.916183 |
| |
0.916045 |
| |
0.915868 |
|
|
|
|
|
 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.
|
