|
|
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 |
| |
0.920691 |
| |
0.920637 |
| |
0.920520 |
| |
0.920327 |
| |
0.920327 |
| |
0.920326 |
| |
0.920165 |
| |
0.920040 |
| |
0.919898 |
| |
0.919883 |
| |
0.919782 |
| |
0.919757 |
| |
0.919729 |
| |
0.919720 |
| |
0.919715 |
| |
0.919660 |
| |
0.919654 |
| |
0.919617 |
| |
0.919588 |
| |
0.919535 |
| |
0.919500 |
| |
0.919473 |
| |
0.919281 |
| |
0.918915 |
| |
0.918884 |
|
|
|
|
|
 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.
|
