|
|
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 |
| |
0.697913 |
| |
0.697901 |
| |
0.697772 |
| |
0.697700 |
| |
0.697509 |
| |
0.697441 |
| |
0.697371 |
| |
0.697302 |
| |
0.697170 |
| |
0.697155 |
| |
0.696841 |
| |
0.696685 |
| |
0.696577 |
| |
0.696462 |
| |
0.696265 |
| |
0.696250 |
| |
0.696231 |
| |
0.696068 |
| |
0.696039 |
| |
0.695937 |
| |
0.695857 |
| |
0.695807 |
| |
0.695794 |
| |
0.695742 |
| |
0.695452 |
|
|
|
|
|
 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.
|
