|
|
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 |
| |
0.885762 |
| |
0.885646 |
| |
0.885616 |
| |
0.885488 |
| |
0.885428 |
| |
0.885261 |
| |
0.885171 |
| |
0.885169 |
| |
0.885155 |
| |
0.885070 |
| |
0.885031 |
| |
0.884972 |
| |
0.884899 |
| |
0.884899 |
| |
0.884783 |
| |
0.884741 |
| |
0.884724 |
| |
0.884717 |
| |
0.884296 |
| |
0.884245 |
| |
0.884221 |
| |
0.884173 |
| |
0.884054 |
| |
0.883891 |
| |
0.883808 |
|
|
|
|
|
 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.
|
