|
|
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 |
| |
0.590225 |
| |
0.590224 |
| |
0.590214 |
| |
0.590089 |
| |
0.590066 |
| |
0.590028 |
| |
0.589902 |
| |
0.589719 |
| |
0.589541 |
| |
0.589489 |
| |
0.589482 |
| |
0.589454 |
| |
0.589329 |
| |
0.589250 |
| |
0.589204 |
| |
0.589160 |
| |
0.589081 |
| |
0.589013 |
| |
0.589006 |
| |
0.588957 |
| |
0.588871 |
| |
0.588824 |
| |
0.588682 |
| |
0.588637 |
| |
0.588637 |
|
|
|
|
|
 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.
|
