|
|
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 |
| |
0.878219 |
| |
0.878198 |
| |
0.878110 |
| |
0.878110 |
| |
0.878022 |
| |
0.878002 |
| |
0.877952 |
| |
0.877937 |
| |
0.877883 |
| |
0.877854 |
| |
0.877811 |
| |
0.877780 |
| |
0.877731 |
| |
0.877721 |
| |
0.877691 |
| |
0.877653 |
| |
0.877606 |
| |
0.877597 |
| |
0.877506 |
| |
0.877330 |
| |
0.877301 |
| |
0.877270 |
| |
0.877136 |
| |
0.877056 |
| |
0.877040 |
|
|
|
|
|
 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.
|
