|
|
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 |
| |
0.720393 |
| |
0.720357 |
| |
0.720352 |
| |
0.720331 |
| |
0.720313 |
| |
0.720312 |
| |
0.720194 |
| |
0.720158 |
| |
0.720104 |
| |
0.719993 |
| |
0.719956 |
| |
0.719955 |
| |
0.719916 |
| |
0.719864 |
| |
0.719693 |
| |
0.719664 |
| |
0.719662 |
| |
0.719619 |
| |
0.719618 |
| |
0.719586 |
| |
0.719311 |
| |
0.719242 |
| |
0.719229 |
| |
0.719218 |
| |
0.719151 |
|
|
|
|
|
 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.
|
