|
|
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 |
| |
0.622704 |
| |
0.622670 |
| |
0.622656 |
| |
0.622570 |
| |
0.622437 |
| |
0.622424 |
| |
0.622361 |
| |
0.622325 |
| |
0.622302 |
| |
0.622183 |
| |
0.622133 |
| |
0.622115 |
| |
0.622031 |
| |
0.621910 |
| |
0.621832 |
| |
0.621693 |
| |
0.621633 |
| |
0.621630 |
| |
0.621600 |
| |
0.621558 |
| |
0.621487 |
| |
0.621457 |
| |
0.621457 |
| |
0.621453 |
| |
0.621434 |
|
|
|
|
|
 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.
|
