|
|
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 |
| |
0.722586 |
| |
0.722580 |
| |
0.722580 |
| |
0.722561 |
| |
0.722560 |
| |
0.722390 |
| |
0.722383 |
| |
0.722364 |
| |
0.722352 |
| |
0.722351 |
| |
0.722283 |
| |
0.722260 |
| |
0.722234 |
| |
0.722180 |
| |
0.722121 |
| |
0.722104 |
| |
0.722081 |
| |
0.722044 |
| |
0.722044 |
| |
0.722034 |
| |
0.722026 |
| |
0.722021 |
| |
0.721962 |
| |
0.721956 |
| |
0.721937 |
|
|
|
|
|
 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.
|
