|
|
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 |
| |
0.648241 |
| |
0.647691 |
| |
0.647535 |
| |
0.647532 |
| |
0.647531 |
| |
0.647411 |
| |
0.647316 |
| |
0.647189 |
| |
0.647185 |
| |
0.647105 |
| |
0.647083 |
| |
0.647048 |
| |
0.647028 |
| |
0.646971 |
| |
0.646903 |
| |
0.646882 |
| |
0.646872 |
| |
0.646706 |
| |
0.646499 |
| |
0.646498 |
| |
0.646310 |
| |
0.646181 |
| |
0.646104 |
| |
0.646102 |
| |
0.646099 |
|
|
|
|
|
 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.
|
