|
|
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 |
| |
0.847768 |
| |
0.847729 |
| |
0.847646 |
| |
0.847645 |
| |
0.847543 |
| |
0.847541 |
| |
0.847427 |
| |
0.847395 |
| |
0.847395 |
| |
0.847223 |
| |
0.847120 |
| |
0.846828 |
| |
0.846698 |
| |
0.846634 |
| |
0.846573 |
| |
0.846560 |
| |
0.846530 |
| |
0.846430 |
| |
0.846415 |
| |
0.846340 |
| |
0.846259 |
| |
0.846105 |
| |
0.846026 |
| |
0.845893 |
| |
0.845830 |
|
|
|
|
|
 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.
|
