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