|
|
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 |
| |
0.840887 |
| |
0.840751 |
| |
0.840706 |
| |
0.840326 |
| |
0.840185 |
| |
0.840182 |
| |
0.840040 |
| |
0.840036 |
| |
0.839964 |
| |
0.839879 |
| |
0.839878 |
| |
0.839814 |
| |
0.839794 |
| |
0.839436 |
| |
0.839229 |
| |
0.839179 |
| |
0.839124 |
| |
0.838894 |
| |
0.838844 |
| |
0.838779 |
| |
0.838726 |
| |
0.838685 |
| |
0.838598 |
| |
0.838592 |
| |
0.838431 |
|
|
|
|
|
 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.
|
