|
|
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 |
| |
0.681644 |
| |
0.681491 |
| |
0.681478 |
| |
0.681460 |
| |
0.681412 |
| |
0.681393 |
| |
0.681350 |
| |
0.681340 |
| |
0.681340 |
| |
0.681329 |
| |
0.681328 |
| |
0.681259 |
| |
0.681250 |
| |
0.681237 |
| |
0.681215 |
| |
0.681188 |
| |
0.681152 |
| |
0.681124 |
| |
0.681117 |
| |
0.681098 |
| |
0.681083 |
| |
0.681039 |
| |
0.681019 |
| |
0.680919 |
| |
0.680799 |
|
|
|
|
|
 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.
|
