|
|
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 |
| |
0.921622 |
| |
0.921585 |
| |
0.921554 |
| |
0.921536 |
| |
0.921529 |
| |
0.921521 |
| |
0.921514 |
| |
0.921495 |
| |
0.921453 |
| |
0.921439 |
| |
0.921388 |
| |
0.921383 |
| |
0.921377 |
| |
0.921318 |
| |
0.921314 |
| |
0.921301 |
| |
0.921195 |
| |
0.921195 |
| |
0.921165 |
| |
0.921146 |
| |
0.921111 |
| |
0.921103 |
| |
0.921073 |
| |
0.920815 |
| |
0.920691 |
|
|
|
|
|
 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.
|
