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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.
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Symbol | Correlation |
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0.959434 |
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0.959430 |
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0.959428 |
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0.959424 |
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0.959261 |
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0.959258 |
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0.959256 |
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0.959195 |
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0.959149 |
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0.959136 |
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0.959100 |
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0.959099 |
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0.959043 |
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0.959007 |
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0.958963 |
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0.958919 |
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0.958916 |
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0.958870 |
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0.958810 |
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0.958802 |
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0.958741 |
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0.958694 |
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0.958460 |
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0.958448 |
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0.958447 |
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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.
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