|
|
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 |
| |
0.942675 |
| |
0.942225 |
| |
0.941869 |
| |
0.941641 |
| |
0.941454 |
| |
0.941292 |
| |
0.941170 |
| |
0.941105 |
| |
0.940975 |
| |
0.940914 |
| |
0.940417 |
| |
0.939855 |
| |
0.939744 |
| |
0.939674 |
| |
0.939617 |
| |
0.939338 |
| |
0.939162 |
| |
0.939159 |
| |
0.938979 |
| |
0.938961 |
| |
0.938789 |
| |
0.938258 |
| |
0.938045 |
| |
0.937772 |
| |
0.937732 |
|
|
|
|
|
 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.
|
