|
|
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 |
| |
0.921793 |
| |
0.921744 |
| |
0.921306 |
| |
0.921173 |
| |
0.921126 |
| |
0.920973 |
| |
0.920827 |
| |
0.920721 |
| |
0.920673 |
| |
0.920554 |
| |
0.920167 |
| |
0.919875 |
| |
0.919643 |
| |
0.919526 |
| |
0.919510 |
| |
0.919455 |
| |
0.919423 |
| |
0.919169 |
| |
0.919147 |
| |
0.919060 |
| |
0.919032 |
| |
0.919011 |
| |
0.918862 |
| |
0.918796 |
| |
0.918735 |
|
|
|
|
|
 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.
|
