|
|
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 |
| |
0.693371 |
| |
0.693325 |
| |
0.693311 |
| |
0.693284 |
| |
0.693195 |
| |
0.693162 |
| |
0.693101 |
| |
0.693073 |
| |
0.693073 |
| |
0.693049 |
| |
0.693048 |
| |
0.693008 |
| |
0.692989 |
| |
0.692963 |
| |
0.692799 |
| |
0.692795 |
| |
0.692748 |
| |
0.692715 |
| |
0.692682 |
| |
0.692626 |
| |
0.692600 |
| |
0.692594 |
| |
0.692584 |
| |
0.692584 |
| |
0.692577 |
|
|
|
|
|
 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.
|
