|
|
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 |
| |
0.797681 |
| |
0.796947 |
| |
0.796861 |
| |
0.795430 |
| |
0.794850 |
| |
0.794440 |
| |
0.793756 |
| |
0.793727 |
| |
0.793076 |
| |
0.792664 |
| |
0.792629 |
| |
0.791878 |
| |
0.789839 |
| |
0.789839 |
| |
0.789448 |
| |
0.789439 |
| |
0.788800 |
| |
0.788310 |
| |
0.788245 |
| |
0.788113 |
| |
0.787539 |
| |
0.787213 |
| |
0.787201 |
| |
0.786643 |
| |
0.786364 |
|
|
|
|
|
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.
|