|
|
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 |
| |
0.874461 |
| |
0.874433 |
| |
0.874372 |
| |
0.874323 |
| |
0.874323 |
| |
0.874271 |
| |
0.874190 |
| |
0.874188 |
| |
0.874142 |
| |
0.874142 |
| |
0.874116 |
| |
0.874105 |
| |
0.873945 |
| |
0.873903 |
| |
0.873888 |
| |
0.873815 |
| |
0.873815 |
| |
0.873809 |
| |
0.873773 |
| |
0.873769 |
| |
0.873769 |
| |
0.873724 |
| |
0.873653 |
| |
0.873566 |
| |
0.873564 |
|
|
|
|
|
 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.
|
