|
|
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 |
| |
0.788080 |
| |
0.787966 |
| |
0.787954 |
| |
0.787935 |
| |
0.787864 |
| |
0.787821 |
| |
0.787764 |
| |
0.787751 |
| |
0.787577 |
| |
0.787542 |
| |
0.787461 |
| |
0.787453 |
| |
0.787431 |
| |
0.787326 |
| |
0.787040 |
| |
0.786997 |
| |
0.786910 |
| |
0.786835 |
| |
0.786813 |
| |
0.786498 |
| |
0.786477 |
| |
0.786473 |
| |
0.786404 |
| |
0.786360 |
| |
0.786351 |
|
|
|
|
|
 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.
|
