|
|
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 |
| |
0.894608 |
| |
0.894585 |
| |
0.894561 |
| |
0.894540 |
| |
0.894515 |
| |
0.894508 |
| |
0.894389 |
| |
0.894377 |
| |
0.894240 |
| |
0.894202 |
| |
0.894177 |
| |
0.894157 |
| |
0.894117 |
| |
0.894079 |
| |
0.894060 |
| |
0.894037 |
| |
0.893928 |
| |
0.893897 |
| |
0.893837 |
| |
0.893802 |
| |
0.893703 |
| |
0.893397 |
| |
0.893381 |
| |
0.893230 |
| |
0.893188 |
|
|
|
|
|
 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.
|
