|
|
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 |
| |
0.680102 |
| |
0.680009 |
| |
0.679923 |
| |
0.679908 |
| |
0.679896 |
| |
0.679845 |
| |
0.679681 |
| |
0.679675 |
| |
0.679647 |
| |
0.679634 |
| |
0.679628 |
| |
0.679616 |
| |
0.679589 |
| |
0.679566 |
| |
0.679562 |
| |
0.679557 |
| |
0.679544 |
| |
0.679391 |
| |
0.679350 |
| |
0.679264 |
| |
0.679184 |
| |
0.679163 |
| |
0.679090 |
| |
0.679053 |
| |
0.679046 |
|
|
|
|
|
 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.
|
