|
|
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 |
| |
0.670626 |
| |
0.670575 |
| |
0.670550 |
| |
0.670536 |
| |
0.670461 |
| |
0.670413 |
| |
0.670327 |
| |
0.670321 |
| |
0.670287 |
| |
0.670252 |
| |
0.670141 |
| |
0.670117 |
| |
0.670114 |
| |
0.670088 |
| |
0.670082 |
| |
0.670052 |
| |
0.670036 |
| |
0.670019 |
| |
0.669947 |
| |
0.669924 |
| |
0.669896 |
| |
0.669894 |
| |
0.669840 |
| |
0.669807 |
| |
0.669754 |
|
|
|
|
|
 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.
|
