|
|
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 |
| |
0.760461 |
| |
0.760443 |
| |
0.760437 |
| |
0.760415 |
| |
0.760280 |
| |
0.760240 |
| |
0.760185 |
| |
0.760176 |
| |
0.760163 |
| |
0.760156 |
| |
0.760098 |
| |
0.760087 |
| |
0.760062 |
| |
0.759887 |
| |
0.759828 |
| |
0.759815 |
| |
0.759815 |
| |
0.759777 |
| |
0.759721 |
| |
0.759702 |
| |
0.759666 |
| |
0.759654 |
| |
0.759368 |
| |
0.759333 |
| |
0.759261 |
|
|
|
|
|
 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.
|
