|
|
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 |
| |
0.864943 |
| |
0.864913 |
| |
0.864902 |
| |
0.864893 |
| |
0.864875 |
| |
0.864804 |
| |
0.864731 |
| |
0.864621 |
| |
0.864565 |
| |
0.864565 |
| |
0.864458 |
| |
0.864410 |
| |
0.864301 |
| |
0.864113 |
| |
0.864113 |
| |
0.864053 |
| |
0.864049 |
| |
0.863965 |
| |
0.863918 |
| |
0.863885 |
| |
0.863789 |
| |
0.863779 |
| |
0.863779 |
| |
0.863737 |
| |
0.863583 |
|
|
|
|
|
 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.
|
