|
|
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 |
| |
0.795417 |
| |
0.795417 |
| |
0.795402 |
| |
0.795362 |
| |
0.795341 |
| |
0.795331 |
| |
0.795328 |
| |
0.795262 |
| |
0.795247 |
| |
0.795221 |
| |
0.795185 |
| |
0.795179 |
| |
0.795158 |
| |
0.795152 |
| |
0.795134 |
| |
0.795119 |
| |
0.795091 |
| |
0.795083 |
| |
0.795077 |
| |
0.794990 |
| |
0.794960 |
| |
0.794929 |
| |
0.794927 |
| |
0.794907 |
| |
0.794890 |
|
|
|
|
|
 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.
|
