|
|
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 |
| |
0.946402 |
| |
0.946391 |
| |
0.946361 |
| |
0.946344 |
| |
0.946291 |
| |
0.946282 |
| |
0.946278 |
| |
0.946275 |
| |
0.946192 |
| |
0.946182 |
| |
0.946047 |
| |
0.946038 |
| |
0.946010 |
| |
0.945961 |
| |
0.945953 |
| |
0.945931 |
| |
0.945897 |
| |
0.945867 |
| |
0.945851 |
| |
0.945848 |
| |
0.945840 |
| |
0.945839 |
| |
0.945831 |
| |
0.945803 |
| |
0.945726 |
|
|
|
|
|
 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.
|
