|
|
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 |
| |
0.825545 |
| |
0.825533 |
| |
0.825478 |
| |
0.825446 |
| |
0.825441 |
| |
0.825429 |
| |
0.825419 |
| |
0.825368 |
| |
0.825266 |
| |
0.825152 |
| |
0.825087 |
| |
0.825079 |
| |
0.825050 |
| |
0.825045 |
| |
0.825045 |
| |
0.825024 |
| |
0.825014 |
| |
0.825008 |
| |
0.824996 |
| |
0.824977 |
| |
0.824974 |
| |
0.824961 |
| |
0.824903 |
| |
0.824851 |
| |
0.824793 |
|
|
|
|
|
 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.
|
