|
|
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 |
| |
0.578612 |
| |
0.575560 |
| |
0.574395 |
| |
0.574288 |
| |
0.573922 |
| |
0.573733 |
| |
0.573680 |
| |
0.573480 |
| |
0.573321 |
| |
0.573173 |
| |
0.573114 |
| |
0.572572 |
| |
0.572021 |
| |
0.571242 |
| |
0.571051 |
| |
0.570513 |
| |
0.569616 |
| |
0.569073 |
| |
0.568741 |
| |
0.568580 |
| |
0.568286 |
| |
0.568221 |
| |
0.568133 |
| |
0.568133 |
| |
0.567804 |
|
|
|
|
|
 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.
|
