|
|
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 |
| |
0.823815 |
| |
0.823426 |
| |
0.823206 |
| |
0.822959 |
| |
0.822928 |
| |
0.822541 |
| |
0.822315 |
| |
0.822081 |
| |
0.821867 |
| |
0.821784 |
| |
0.821457 |
| |
0.821437 |
| |
0.821210 |
| |
0.820931 |
| |
0.820615 |
| |
0.820603 |
| |
0.820036 |
| |
0.818720 |
| |
0.818297 |
| |
0.818131 |
| |
0.818065 |
| |
0.817887 |
| |
0.817764 |
| |
0.817629 |
| |
0.817150 |
|
|
|
|
|
 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.
|
