|
|
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 |
| |
0.616063 |
| |
0.615924 |
| |
0.615924 |
| |
0.615858 |
| |
0.615792 |
| |
0.615744 |
| |
0.615744 |
| |
0.615627 |
| |
0.615604 |
| |
0.615532 |
| |
0.615467 |
| |
0.615097 |
| |
0.615043 |
| |
0.614902 |
| |
0.614881 |
| |
0.614865 |
| |
0.614776 |
| |
0.614757 |
| |
0.614729 |
| |
0.614729 |
| |
0.614612 |
| |
0.614397 |
| |
0.614349 |
| |
0.614041 |
| |
0.614022 |
|
|
|
|
|
 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.
|
