|
|
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 |
| |
0.955454 |
| |
0.955446 |
| |
0.955280 |
| |
0.955112 |
| |
0.954943 |
| |
0.954871 |
| |
0.954815 |
| |
0.954806 |
| |
0.954785 |
| |
0.954785 |
| |
0.954709 |
| |
0.954453 |
| |
0.954357 |
| |
0.954317 |
| |
0.954189 |
| |
0.954110 |
| |
0.954094 |
| |
0.954093 |
| |
0.954090 |
| |
0.954083 |
| |
0.954047 |
| |
0.953959 |
| |
0.953953 |
| |
0.953790 |
| |
0.953730 |
|
|
|
|
|
 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.
|
