|
|
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 |
| |
0.703501 |
| |
0.703478 |
| |
0.703320 |
| |
0.703272 |
| |
0.703252 |
| |
0.703189 |
| |
0.703172 |
| |
0.703156 |
| |
0.703134 |
| |
0.703116 |
| |
0.703063 |
| |
0.702975 |
| |
0.702763 |
| |
0.702731 |
| |
0.702711 |
| |
0.702573 |
| |
0.702567 |
| |
0.702562 |
| |
0.702486 |
| |
0.702323 |
| |
0.702243 |
| |
0.702145 |
| |
0.702142 |
| |
0.702138 |
| |
0.702124 |
|
|
|
|
|
 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.
|
