|
|
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 |
| |
0.419649 |
| |
0.419633 |
| |
0.419557 |
| |
0.419518 |
| |
0.419462 |
| |
0.419428 |
| |
0.419391 |
| |
0.419384 |
| |
0.419379 |
| |
0.419361 |
| |
0.419347 |
| |
0.419345 |
| |
0.419308 |
| |
0.419303 |
| |
0.419265 |
| |
0.419262 |
| |
0.419158 |
| |
0.419152 |
| |
0.419136 |
| |
0.419116 |
| |
0.419084 |
| |
0.419071 |
| |
0.419020 |
| |
0.418999 |
| |
0.418996 |
|
|
|
|
|
 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.
|
