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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.
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Symbol | Correlation |
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0.941111 |
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0.941098 |
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0.941071 |
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0.941061 |
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0.941054 |
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0.940991 |
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0.940981 |
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0.940968 |
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0.940905 |
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0.940887 |
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0.940882 |
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0.940870 |
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0.940861 |
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0.940843 |
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0.940825 |
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0.940805 |
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0.940773 |
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0.940759 |
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0.940749 |
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0.940701 |
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0.940694 |
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0.940653 |
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0.940651 |
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0.940618 |
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0.940600 |
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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.
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