|
|
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 |
| |
0.702026 |
| |
0.702007 |
| |
0.701925 |
| |
0.701819 |
| |
0.701791 |
| |
0.701771 |
| |
0.701770 |
| |
0.701750 |
| |
0.701675 |
| |
0.701643 |
| |
0.701575 |
| |
0.701484 |
| |
0.701468 |
| |
0.701454 |
| |
0.701442 |
| |
0.701437 |
| |
0.701425 |
| |
0.701274 |
| |
0.701229 |
| |
0.701222 |
| |
0.701159 |
| |
0.701147 |
| |
0.701042 |
| |
0.701035 |
| |
0.700991 |
|
|
|
|
|
 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.
|
