|
|
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 |
| |
0.707920 |
| |
0.707597 |
| |
0.707335 |
| |
0.707222 |
| |
0.707185 |
| |
0.707150 |
| |
0.707120 |
| |
0.706914 |
| |
0.706886 |
| |
0.706786 |
| |
0.706755 |
| |
0.706625 |
| |
0.706612 |
| |
0.706600 |
| |
0.706518 |
| |
0.706427 |
| |
0.706353 |
| |
0.706223 |
| |
0.706201 |
| |
0.706158 |
| |
0.706085 |
| |
0.706082 |
| |
0.706043 |
| |
0.705936 |
| |
0.705832 |
|
|
|
|
|
 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.
|
