|
|
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 |
| |
0.859309 |
| |
0.859275 |
| |
0.859204 |
| |
0.859147 |
| |
0.859002 |
| |
0.858953 |
| |
0.858951 |
| |
0.858928 |
| |
0.858901 |
| |
0.858901 |
| |
0.858844 |
| |
0.858843 |
| |
0.858837 |
| |
0.858815 |
| |
0.858814 |
| |
0.858784 |
| |
0.858784 |
| |
0.858762 |
| |
0.858715 |
| |
0.858618 |
| |
0.858589 |
| |
0.858468 |
| |
0.858461 |
| |
0.858461 |
| |
0.858386 |
|
|
|
|
|
 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.
|
