|
|
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 |
| |
0.747255 |
| |
0.747172 |
| |
0.747112 |
| |
0.747098 |
| |
0.747070 |
| |
0.747057 |
| |
0.747047 |
| |
0.747041 |
| |
0.746948 |
| |
0.746919 |
| |
0.746859 |
| |
0.746813 |
| |
0.746773 |
| |
0.746736 |
| |
0.746625 |
| |
0.746607 |
| |
0.746541 |
| |
0.746524 |
| |
0.746524 |
| |
0.746443 |
| |
0.746371 |
| |
0.746348 |
| |
0.746327 |
| |
0.746246 |
| |
0.746235 |
|
|
|
|
|
 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.
|
