|
|
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 |
| |
0.639832 |
| |
0.639796 |
| |
0.639792 |
| |
0.639788 |
| |
0.639274 |
| |
0.639183 |
| |
0.639069 |
| |
0.638992 |
| |
0.638816 |
| |
0.638767 |
| |
0.638635 |
| |
0.638535 |
| |
0.638454 |
| |
0.638154 |
| |
0.637945 |
| |
0.637819 |
| |
0.637708 |
| |
0.637689 |
| |
0.637551 |
| |
0.637536 |
| |
0.637502 |
| |
0.637425 |
| |
0.637323 |
| |
0.637269 |
| |
0.637236 |
|
|
|
|
|
 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.
|
