|
|
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 |
| |
0.619422 |
| |
0.617768 |
| |
0.617606 |
| |
0.615709 |
| |
0.615408 |
| |
0.613823 |
| |
0.613627 |
| |
0.612699 |
| |
0.611845 |
| |
0.607099 |
| |
0.606345 |
| |
0.604916 |
| |
0.604272 |
| |
0.604176 |
| |
0.601737 |
| |
0.600144 |
| |
0.600129 |
| |
0.599858 |
| |
0.598904 |
| |
0.598892 |
| |
0.598862 |
| |
0.597740 |
| |
0.596927 |
| |
0.595308 |
| |
0.595230 |
|
|
|
|
|
 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.
|
