|
|
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 |
| |
0.880739 |
| |
0.880698 |
| |
0.880640 |
| |
0.880582 |
| |
0.880566 |
| |
0.880542 |
| |
0.880415 |
| |
0.880370 |
| |
0.880299 |
| |
0.880289 |
| |
0.880229 |
| |
0.880174 |
| |
0.879965 |
| |
0.879947 |
| |
0.879834 |
| |
0.879769 |
| |
0.879692 |
| |
0.879649 |
| |
0.879644 |
| |
0.879580 |
| |
0.879509 |
| |
0.879370 |
| |
0.879334 |
| |
0.879277 |
| |
0.879160 |
|
|
|
|
|
 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.
|
