|
|
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 |
| |
0.914295 |
| |
0.914295 |
| |
0.914275 |
| |
0.914189 |
| |
0.914178 |
| |
0.914053 |
| |
0.914050 |
| |
0.913987 |
| |
0.913788 |
| |
0.913788 |
| |
0.913772 |
| |
0.913743 |
| |
0.913630 |
| |
0.913514 |
| |
0.913207 |
| |
0.913204 |
| |
0.913128 |
| |
0.913077 |
| |
0.912883 |
| |
0.912797 |
| |
0.912576 |
| |
0.912529 |
| |
0.912511 |
| |
0.912477 |
| |
0.912426 |
|
|
|
|
|
 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.
|
