|
|
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 |
| |
1.000000 |
| |
0.999996 |
| |
0.999851 |
| |
0.999312 |
| |
0.999290 |
| |
0.999219 |
| |
0.998651 |
| |
0.997173 |
| |
0.972577 |
| |
0.972577 |
| |
0.969315 |
| |
0.969179 |
| |
0.969062 |
| |
0.968119 |
| |
0.967554 |
| |
0.967290 |
| |
0.964755 |
| |
0.964414 |
| |
0.964213 |
| |
0.964113 |
| |
0.964113 |
| |
0.963307 |
| |
0.963203 |
| |
0.963154 |
| |
0.963039 |
|
|
|
|
|
 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.
|
