|
|
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 |
| |
0.629833 |
| |
0.629829 |
| |
0.629799 |
| |
0.629784 |
| |
0.629784 |
| |
0.629720 |
| |
0.629715 |
| |
0.629622 |
| |
0.629578 |
| |
0.629560 |
| |
0.629542 |
| |
0.629518 |
| |
0.629513 |
| |
0.629450 |
| |
0.629432 |
| |
0.629360 |
| |
0.629321 |
| |
0.629283 |
| |
0.629220 |
| |
0.629172 |
| |
0.629144 |
| |
0.628897 |
| |
0.628878 |
| |
0.628839 |
| |
0.628786 |
|
|
|
|
|
 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.
|
