|
|
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 |
| |
0.814077 |
| |
0.814036 |
| |
0.813998 |
| |
0.813978 |
| |
0.813850 |
| |
0.813836 |
| |
0.813771 |
| |
0.813733 |
| |
0.813668 |
| |
0.813664 |
| |
0.813661 |
| |
0.813643 |
| |
0.813628 |
| |
0.813612 |
| |
0.813591 |
| |
0.813567 |
| |
0.813555 |
| |
0.813483 |
| |
0.813439 |
| |
0.813437 |
| |
0.813388 |
| |
0.813373 |
| |
0.813309 |
| |
0.813159 |
| |
0.813115 |
|
|
|
|
|
 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.
|
