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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.
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| Symbol | Correlation |
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1.000000 |
| |
0.999993 |
| |
0.997468 |
| |
0.995539 |
| |
0.995399 |
| |
0.994838 |
| |
0.993581 |
| |
0.987067 |
| |
0.985494 |
| |
0.985436 |
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0.892944 |
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0.890488 |
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0.884579 |
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0.883117 |
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0.877071 |
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0.876773 |
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0.876326 |
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0.876073 |
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0.874732 |
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0.874329 |
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0.871338 |
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0.870921 |
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0.870921 |
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0.870189 |
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0.868991 |
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 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.
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