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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.
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| Symbol | Correlation |
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0.680360 |
| |
0.680355 |
| |
0.680295 |
| |
0.680284 |
| |
0.680284 |
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0.680204 |
| |
0.680056 |
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0.680014 |
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0.679955 |
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0.679939 |
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0.679936 |
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0.679864 |
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0.679805 |
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0.679727 |
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0.679683 |
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0.679646 |
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0.679608 |
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0.679580 |
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0.679580 |
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0.679523 |
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0.679523 |
| |
0.679519 |
| |
0.679515 |
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0.679418 |
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0.679408 |
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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.
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