|
|
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 |
| |
0.962823 |
| |
0.962755 |
| |
0.962742 |
| |
0.962740 |
| |
0.962685 |
| |
0.962670 |
| |
0.962617 |
| |
0.962612 |
| |
0.962597 |
| |
0.962519 |
| |
0.962455 |
| |
0.962251 |
| |
0.962239 |
| |
0.962215 |
| |
0.962126 |
| |
0.962121 |
| |
0.962117 |
| |
0.962108 |
| |
0.962096 |
| |
0.962083 |
| |
0.962075 |
| |
0.962054 |
| |
0.962025 |
| |
0.962011 |
| |
0.961996 |
|
|
|
|
|
 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.
|
