|
|
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 |
| |
0.731432 |
| |
0.731425 |
| |
0.731423 |
| |
0.731396 |
| |
0.731374 |
| |
0.731370 |
| |
0.731320 |
| |
0.731303 |
| |
0.731301 |
| |
0.731257 |
| |
0.731233 |
| |
0.731232 |
| |
0.731174 |
| |
0.731054 |
| |
0.730962 |
| |
0.730946 |
| |
0.730920 |
| |
0.730887 |
| |
0.730859 |
| |
0.730848 |
| |
0.730736 |
| |
0.730722 |
| |
0.730713 |
| |
0.730670 |
| |
0.730665 |
|
|
|
|
|
 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.
|
