|
|
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 |
| |
0.585601 |
| |
0.585194 |
| |
0.585177 |
| |
0.585013 |
| |
0.584994 |
| |
0.584986 |
| |
0.584967 |
| |
0.584890 |
| |
0.584817 |
| |
0.584749 |
| |
0.584550 |
| |
0.584545 |
| |
0.584477 |
| |
0.584379 |
| |
0.584344 |
| |
0.584323 |
| |
0.584295 |
| |
0.584282 |
| |
0.584273 |
| |
0.584191 |
| |
0.584164 |
| |
0.584044 |
| |
0.584027 |
| |
0.583797 |
| |
0.583795 |
|
|
|
|
|
 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.
|
