|
|
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 |
| |
0.738843 |
| |
0.738830 |
| |
0.738829 |
| |
0.738763 |
| |
0.738682 |
| |
0.738682 |
| |
0.738676 |
| |
0.738550 |
| |
0.738542 |
| |
0.738415 |
| |
0.738391 |
| |
0.738391 |
| |
0.738384 |
| |
0.738362 |
| |
0.738354 |
| |
0.738335 |
| |
0.738238 |
| |
0.738206 |
| |
0.738172 |
| |
0.738165 |
| |
0.738161 |
| |
0.738151 |
| |
0.738139 |
| |
0.738045 |
| |
0.737933 |
|
|
|
|
|
 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.
|
