|
|
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 |
| |
0.923542 |
| |
0.923532 |
| |
0.923456 |
| |
0.923455 |
| |
0.923440 |
| |
0.923420 |
| |
0.923343 |
| |
0.923343 |
| |
0.923248 |
| |
0.923242 |
| |
0.923175 |
| |
0.923161 |
| |
0.923116 |
| |
0.923114 |
| |
0.923057 |
| |
0.923034 |
| |
0.922997 |
| |
0.922992 |
| |
0.922983 |
| |
0.922961 |
| |
0.922930 |
| |
0.922918 |
| |
0.922918 |
| |
0.922901 |
| |
0.922900 |
|
|
|
|
|
 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.
|
