|
|
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 |
| |
0.679351 |
| |
0.679322 |
| |
0.679305 |
| |
0.679295 |
| |
0.679276 |
| |
0.679165 |
| |
0.679146 |
| |
0.679130 |
| |
0.679123 |
| |
0.679109 |
| |
0.679061 |
| |
0.679057 |
| |
0.679053 |
| |
0.679051 |
| |
0.679002 |
| |
0.678952 |
| |
0.678945 |
| |
0.678882 |
| |
0.678870 |
| |
0.678870 |
| |
0.678793 |
| |
0.678772 |
| |
0.678741 |
| |
0.678698 |
| |
0.678675 |
|
|
|
|
|
 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.
|
