|
|
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 |
| |
0.726593 |
| |
0.726580 |
| |
0.726533 |
| |
0.726508 |
| |
0.726424 |
| |
0.726331 |
| |
0.726308 |
| |
0.725995 |
| |
0.725951 |
| |
0.725931 |
| |
0.725861 |
| |
0.725724 |
| |
0.725588 |
| |
0.725463 |
| |
0.725302 |
| |
0.725144 |
| |
0.725109 |
| |
0.725106 |
| |
0.725093 |
| |
0.724644 |
| |
0.724631 |
| |
0.724520 |
| |
0.724394 |
| |
0.723970 |
| |
0.723471 |
|
|
|
|
|
 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.
|
