|
|
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 |
| |
0.718779 |
| |
0.718613 |
| |
0.718607 |
| |
0.718476 |
| |
0.718435 |
| |
0.718313 |
| |
0.718272 |
| |
0.718243 |
| |
0.718207 |
| |
0.718150 |
| |
0.717936 |
| |
0.717902 |
| |
0.717873 |
| |
0.717809 |
| |
0.717706 |
| |
0.717702 |
| |
0.717699 |
| |
0.717657 |
| |
0.717654 |
| |
0.717550 |
| |
0.717544 |
| |
0.717524 |
| |
0.717519 |
| |
0.717511 |
| |
0.717511 |
|
|
|
|
|
 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.
|
