|
|
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 |
| |
0.736035 |
| |
0.735885 |
| |
0.735856 |
| |
0.735831 |
| |
0.735801 |
| |
0.735767 |
| |
0.735756 |
| |
0.735124 |
| |
0.735018 |
| |
0.734553 |
| |
0.734387 |
| |
0.734287 |
| |
0.733536 |
| |
0.733423 |
| |
0.733304 |
| |
0.733192 |
| |
0.733087 |
| |
0.731312 |
| |
0.731052 |
| |
0.731052 |
| |
0.730865 |
| |
0.730473 |
| |
0.730388 |
| |
0.730300 |
| |
0.730282 |
|
|
|
|
|
 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.
|
