|
|
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 |
| |
0.791804 |
| |
0.791773 |
| |
0.791672 |
| |
0.791610 |
| |
0.791589 |
| |
0.791558 |
| |
0.791541 |
| |
0.791510 |
| |
0.791503 |
| |
0.791464 |
| |
0.791438 |
| |
0.791434 |
| |
0.791146 |
| |
0.790924 |
| |
0.790899 |
| |
0.790855 |
| |
0.790827 |
| |
0.790778 |
| |
0.790778 |
| |
0.790772 |
| |
0.790749 |
| |
0.790675 |
| |
0.790673 |
| |
0.790590 |
| |
0.790561 |
|
|
|
|
|
 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.
|
