|
|
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 |
| |
0.791098 |
| |
0.791081 |
| |
0.791072 |
| |
0.791036 |
| |
0.790988 |
| |
0.790988 |
| |
0.790978 |
| |
0.790958 |
| |
0.790955 |
| |
0.790929 |
| |
0.790912 |
| |
0.790879 |
| |
0.790770 |
| |
0.790766 |
| |
0.790764 |
| |
0.790748 |
| |
0.790666 |
| |
0.790611 |
| |
0.790395 |
| |
0.790383 |
| |
0.790305 |
| |
0.790293 |
| |
0.790280 |
| |
0.790234 |
| |
0.790204 |
|
|
|
|
|
 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.
|
