|
|
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 |
| |
0.884624 |
| |
0.884532 |
| |
0.884513 |
| |
0.884501 |
| |
0.884494 |
| |
0.884433 |
| |
0.884370 |
| |
0.884361 |
| |
0.884351 |
| |
0.884273 |
| |
0.884239 |
| |
0.884239 |
| |
0.884126 |
| |
0.884104 |
| |
0.884069 |
| |
0.884025 |
| |
0.883985 |
| |
0.883895 |
| |
0.883729 |
| |
0.883622 |
| |
0.883580 |
| |
0.883560 |
| |
0.883515 |
| |
0.883510 |
| |
0.883480 |
|
|
|
|
|
 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.
|
