|
|
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 |
| |
0.842473 |
| |
0.842472 |
| |
0.842420 |
| |
0.842387 |
| |
0.842381 |
| |
0.842315 |
| |
0.842252 |
| |
0.842202 |
| |
0.842166 |
| |
0.842132 |
| |
0.842088 |
| |
0.842043 |
| |
0.841946 |
| |
0.841922 |
| |
0.841547 |
| |
0.841544 |
| |
0.841538 |
| |
0.841448 |
| |
0.841405 |
| |
0.841373 |
| |
0.841277 |
| |
0.841243 |
| |
0.841133 |
| |
0.841102 |
| |
0.840951 |
|
|
|
|
|
 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.
|
