|
|
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 |
| |
0.669904 |
| |
0.669904 |
| |
0.669897 |
| |
0.669834 |
| |
0.669570 |
| |
0.669454 |
| |
0.669448 |
| |
0.668647 |
| |
0.668567 |
| |
0.668567 |
| |
0.668294 |
| |
0.667834 |
| |
0.667766 |
| |
0.667541 |
| |
0.667460 |
| |
0.667405 |
| |
0.667391 |
| |
0.667313 |
| |
0.667281 |
| |
0.667122 |
| |
0.666832 |
| |
0.666656 |
| |
0.666599 |
| |
0.666595 |
| |
0.666514 |
|
|
|
|
|
 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.
|
