|
|
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 |
| |
0.917786 |
| |
0.917728 |
| |
0.917719 |
| |
0.917561 |
| |
0.917502 |
| |
0.917470 |
| |
0.917269 |
| |
0.917216 |
| |
0.917153 |
| |
0.917144 |
| |
0.917078 |
| |
0.916989 |
| |
0.916931 |
| |
0.916893 |
| |
0.916853 |
| |
0.916707 |
| |
0.916624 |
| |
0.916621 |
| |
0.916387 |
| |
0.916375 |
| |
0.916360 |
| |
0.916249 |
| |
0.916022 |
| |
0.915899 |
| |
0.915861 |
|
|
|
|
|
 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.
|
