|
|
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 |
| |
0.726574 |
| |
0.726544 |
| |
0.726526 |
| |
0.726499 |
| |
0.726485 |
| |
0.726454 |
| |
0.726441 |
| |
0.726423 |
| |
0.726411 |
| |
0.726398 |
| |
0.726380 |
| |
0.726380 |
| |
0.726376 |
| |
0.726339 |
| |
0.726308 |
| |
0.726278 |
| |
0.726133 |
| |
0.726080 |
| |
0.726071 |
| |
0.726070 |
| |
0.726004 |
| |
0.725959 |
| |
0.725738 |
| |
0.725725 |
| |
0.725708 |
|
|
|
|
|
 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.
|
