|
|
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 |
| |
0.929678 |
| |
0.929645 |
| |
0.929368 |
| |
0.929356 |
| |
0.929342 |
| |
0.929274 |
| |
0.929216 |
| |
0.929098 |
| |
0.929063 |
| |
0.929052 |
| |
0.928965 |
| |
0.928923 |
| |
0.928879 |
| |
0.928627 |
| |
0.928610 |
| |
0.928320 |
| |
0.928238 |
| |
0.928229 |
| |
0.928229 |
| |
0.928188 |
| |
0.928146 |
| |
0.928052 |
| |
0.928017 |
| |
0.927973 |
| |
0.927946 |
|
|
|
|
|
 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.
|
