|
|
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 |
| |
0.673125 |
| |
0.673032 |
| |
0.672976 |
| |
0.672905 |
| |
0.672905 |
| |
0.672891 |
| |
0.672888 |
| |
0.672857 |
| |
0.672812 |
| |
0.672806 |
| |
0.672788 |
| |
0.672769 |
| |
0.672735 |
| |
0.672718 |
| |
0.672688 |
| |
0.672649 |
| |
0.672619 |
| |
0.672589 |
| |
0.672500 |
| |
0.672435 |
| |
0.672433 |
| |
0.672404 |
| |
0.672292 |
| |
0.672281 |
| |
0.672273 |
|
|
|
|
|
 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.
|
