|
|
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 |
| |
0.745666 |
| |
0.745652 |
| |
0.745495 |
| |
0.745446 |
| |
0.745393 |
| |
0.745388 |
| |
0.745388 |
| |
0.745325 |
| |
0.745320 |
| |
0.745260 |
| |
0.745222 |
| |
0.745201 |
| |
0.745124 |
| |
0.744998 |
| |
0.744933 |
| |
0.744739 |
| |
0.744575 |
| |
0.744547 |
| |
0.744522 |
| |
0.744508 |
| |
0.744412 |
| |
0.744324 |
| |
0.744299 |
| |
0.744289 |
| |
0.744274 |
|
|
|
|
|
 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.
|
