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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.
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Symbol | Correlation |
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0.944598 |
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0.944591 |
|
0.944588 |
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0.944571 |
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0.944571 |
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0.944564 |
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0.944554 |
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0.944548 |
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0.944545 |
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0.944544 |
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0.944539 |
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0.944528 |
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0.944526 |
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0.944522 |
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0.944503 |
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0.944499 |
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0.944499 |
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0.944497 |
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0.944406 |
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0.944398 |
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0.944368 |
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0.944359 |
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0.944348 |
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0.944292 |
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0.944280 |
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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.
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