|
|
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 |
| |
0.571763 |
| |
0.571208 |
| |
0.570773 |
| |
0.570718 |
| |
0.570406 |
| |
0.569644 |
| |
0.569506 |
| |
0.569414 |
| |
0.569271 |
| |
0.569019 |
| |
0.568922 |
| |
0.568759 |
| |
0.568478 |
| |
0.568330 |
| |
0.566979 |
| |
0.566805 |
| |
0.566445 |
| |
0.566125 |
| |
0.565489 |
| |
0.565443 |
| |
0.565369 |
| |
0.564585 |
| |
0.564330 |
| |
0.564304 |
| |
0.564229 |
|
|
|
|
|
 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.
|
