|
|
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 |
| |
0.845810 |
| |
0.845793 |
| |
0.845587 |
| |
0.845570 |
| |
0.845555 |
| |
0.845541 |
| |
0.845516 |
| |
0.845225 |
| |
0.845183 |
| |
0.844992 |
| |
0.844864 |
| |
0.844834 |
| |
0.844685 |
| |
0.844602 |
| |
0.844320 |
| |
0.844016 |
| |
0.843515 |
| |
0.843490 |
| |
0.843458 |
| |
0.843444 |
| |
0.843311 |
| |
0.843311 |
| |
0.843310 |
| |
0.843278 |
| |
0.843215 |
|
|
|
|
|
 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.
|
