|
|
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 |
| |
0.672149 |
| |
0.672137 |
| |
0.672124 |
| |
0.672012 |
| |
0.671971 |
| |
0.671967 |
| |
0.671967 |
| |
0.671921 |
| |
0.671889 |
| |
0.671838 |
| |
0.671784 |
| |
0.671742 |
| |
0.671696 |
| |
0.671658 |
| |
0.671637 |
| |
0.671634 |
| |
0.671620 |
| |
0.671618 |
| |
0.671607 |
| |
0.671552 |
| |
0.671456 |
| |
0.671420 |
| |
0.671392 |
| |
0.671373 |
| |
0.671339 |
|
|
|
|
|
 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.
|
