|
|
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 |
| |
0.834771 |
| |
0.834768 |
| |
0.834614 |
| |
0.834512 |
| |
0.834393 |
| |
0.834312 |
| |
0.834217 |
| |
0.834018 |
| |
0.834016 |
| |
0.833986 |
| |
0.833935 |
| |
0.833934 |
| |
0.833869 |
| |
0.833798 |
| |
0.833715 |
| |
0.833616 |
| |
0.833616 |
| |
0.833613 |
| |
0.833574 |
| |
0.833573 |
| |
0.833551 |
| |
0.833538 |
| |
0.833397 |
| |
0.833245 |
| |
0.833232 |
|
|
|
|
|
 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.
|
