|
|
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 |
| |
0.940500 |
| |
0.940487 |
| |
0.940465 |
| |
0.940453 |
| |
0.940431 |
| |
0.940395 |
| |
0.940377 |
| |
0.940350 |
| |
0.940350 |
| |
0.940344 |
| |
0.940311 |
| |
0.940297 |
| |
0.940288 |
| |
0.940268 |
| |
0.940231 |
| |
0.940166 |
| |
0.940149 |
| |
0.940134 |
| |
0.940062 |
| |
0.940029 |
| |
0.939981 |
| |
0.939932 |
| |
0.939904 |
| |
0.939895 |
| |
0.939893 |
|
|
|
|
|
 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.
|
