|
|
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 |
| |
0.661328 |
| |
0.661300 |
| |
0.661245 |
| |
0.661147 |
| |
0.661065 |
| |
0.661035 |
| |
0.660988 |
| |
0.660954 |
| |
0.660901 |
| |
0.660893 |
| |
0.660841 |
| |
0.660633 |
| |
0.660583 |
| |
0.660539 |
| |
0.660475 |
| |
0.660458 |
| |
0.660438 |
| |
0.660391 |
| |
0.660331 |
| |
0.660278 |
| |
0.660216 |
| |
0.660133 |
| |
0.659985 |
| |
0.659927 |
| |
0.659892 |
|
|
|
|
|
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.
|