|
|
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 |
| |
0.652479 |
| |
0.652446 |
| |
0.652433 |
| |
0.652312 |
| |
0.652299 |
| |
0.652289 |
| |
0.652255 |
| |
0.652210 |
| |
0.652108 |
| |
0.652074 |
| |
0.651976 |
| |
0.651960 |
| |
0.651930 |
| |
0.651930 |
| |
0.651850 |
| |
0.651775 |
| |
0.651699 |
| |
0.651695 |
| |
0.651626 |
| |
0.651618 |
| |
0.651586 |
| |
0.651366 |
| |
0.651332 |
| |
0.651234 |
| |
0.651098 |
|
|
|
|
|
 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.
|
