|
|
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 |
| |
0.729767 |
| |
0.729743 |
| |
0.729716 |
| |
0.729680 |
| |
0.729672 |
| |
0.729651 |
| |
0.729643 |
| |
0.729551 |
| |
0.729541 |
| |
0.729377 |
| |
0.729371 |
| |
0.729356 |
| |
0.729326 |
| |
0.729318 |
| |
0.729284 |
| |
0.729250 |
| |
0.729247 |
| |
0.729234 |
| |
0.729225 |
| |
0.729111 |
| |
0.729106 |
| |
0.729103 |
| |
0.728991 |
| |
0.728990 |
| |
0.728884 |
|
|
|
|
|
 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.
|
