|
|
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 |
| |
0.746144 |
| |
0.746001 |
| |
0.745972 |
| |
0.745957 |
| |
0.745946 |
| |
0.745864 |
| |
0.745658 |
| |
0.745629 |
| |
0.745572 |
| |
0.745535 |
| |
0.745520 |
| |
0.745442 |
| |
0.745411 |
| |
0.745393 |
| |
0.745371 |
| |
0.745316 |
| |
0.745262 |
| |
0.745232 |
| |
0.745219 |
| |
0.745138 |
| |
0.745049 |
| |
0.744976 |
| |
0.744964 |
| |
0.744964 |
| |
0.744935 |
|
|
|
|
|
 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.
|
