|
|
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 |
| |
0.828915 |
| |
0.828793 |
| |
0.828759 |
| |
0.828678 |
| |
0.828574 |
| |
0.828400 |
| |
0.828377 |
| |
0.828335 |
| |
0.828198 |
| |
0.828108 |
| |
0.828049 |
| |
0.827997 |
| |
0.827964 |
| |
0.827832 |
| |
0.827809 |
| |
0.827798 |
| |
0.827791 |
| |
0.827704 |
| |
0.827625 |
| |
0.827624 |
| |
0.827574 |
| |
0.827401 |
| |
0.827245 |
| |
0.827160 |
| |
0.827094 |
|
|
|
|
|
 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.
|
