|
|
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 |
| |
0.937567 |
| |
0.937464 |
| |
0.937295 |
| |
0.937212 |
| |
0.937079 |
| |
0.936773 |
| |
0.936773 |
| |
0.936645 |
| |
0.936645 |
| |
0.936494 |
| |
0.936450 |
| |
0.936329 |
| |
0.936154 |
| |
0.935998 |
| |
0.935993 |
| |
0.935974 |
| |
0.935760 |
| |
0.935680 |
| |
0.935489 |
| |
0.935114 |
| |
0.934923 |
| |
0.934897 |
| |
0.934881 |
| |
0.934514 |
| |
0.934412 |
|
|
|
|
|
 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.
|
