|
|
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 |
| |
0.796968 |
| |
0.796965 |
| |
0.796908 |
| |
0.796863 |
| |
0.796835 |
| |
0.796729 |
| |
0.796708 |
| |
0.796705 |
| |
0.796704 |
| |
0.796693 |
| |
0.796686 |
| |
0.796686 |
| |
0.796676 |
| |
0.796641 |
| |
0.796611 |
| |
0.796507 |
| |
0.796461 |
| |
0.796447 |
| |
0.796403 |
| |
0.796373 |
| |
0.796368 |
| |
0.796362 |
| |
0.796362 |
| |
0.796311 |
| |
0.796287 |
|
|
|
|
|
 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.
|
