|
|
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 |
| |
0.674822 |
| |
0.674798 |
| |
0.674711 |
| |
0.674629 |
| |
0.674625 |
| |
0.674525 |
| |
0.674523 |
| |
0.674476 |
| |
0.674261 |
| |
0.674220 |
| |
0.674184 |
| |
0.674149 |
| |
0.674114 |
| |
0.674112 |
| |
0.674106 |
| |
0.674054 |
| |
0.673978 |
| |
0.673969 |
| |
0.673836 |
| |
0.673801 |
| |
0.673737 |
| |
0.673614 |
| |
0.673491 |
| |
0.673462 |
| |
0.673351 |
|
|
|
|
|
 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.
|
