|
|
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 |
| |
0.810957 |
| |
0.810800 |
| |
0.810191 |
| |
0.810191 |
| |
0.808891 |
| |
0.807963 |
| |
0.807586 |
| |
0.807063 |
| |
0.805061 |
| |
0.804526 |
| |
0.804112 |
| |
0.804019 |
| |
0.803955 |
| |
0.803701 |
| |
0.803581 |
| |
0.803071 |
| |
0.802781 |
| |
0.802628 |
| |
0.801431 |
| |
0.800238 |
| |
0.800193 |
| |
0.799826 |
| |
0.799141 |
| |
0.798970 |
| |
0.798904 |
|
|
|
|
|
 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.
|
