|
|
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 |
| |
0.961978 |
| |
0.961940 |
| |
0.961924 |
| |
0.961847 |
| |
0.961755 |
| |
0.961731 |
| |
0.961688 |
| |
0.961659 |
| |
0.961645 |
| |
0.961623 |
| |
0.961594 |
| |
0.961566 |
| |
0.961545 |
| |
0.961515 |
| |
0.961473 |
| |
0.961443 |
| |
0.961394 |
| |
0.961315 |
| |
0.961265 |
| |
0.961204 |
| |
0.961190 |
| |
0.961136 |
| |
0.961067 |
| |
0.961065 |
| |
0.961022 |
|
|
|
|
|
 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.
|
