|
|
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 |
| |
0.695287 |
| |
0.695213 |
| |
0.695173 |
| |
0.695139 |
| |
0.695040 |
| |
0.694957 |
| |
0.694949 |
| |
0.694822 |
| |
0.694778 |
| |
0.694685 |
| |
0.694633 |
| |
0.694523 |
| |
0.694462 |
| |
0.694416 |
| |
0.694414 |
| |
0.694364 |
| |
0.694159 |
| |
0.694063 |
| |
0.694041 |
| |
0.693715 |
| |
0.693541 |
| |
0.693535 |
| |
0.693470 |
| |
0.693425 |
| |
0.693370 |
|
|
|
|
|
 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.
|
