|
|
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 |
| |
0.813546 |
| |
0.813527 |
| |
0.813525 |
| |
0.813494 |
| |
0.813460 |
| |
0.813436 |
| |
0.813421 |
| |
0.813409 |
| |
0.813369 |
| |
0.813357 |
| |
0.813339 |
| |
0.813315 |
| |
0.813315 |
| |
0.813273 |
| |
0.813237 |
| |
0.813233 |
| |
0.813207 |
| |
0.813191 |
| |
0.813126 |
| |
0.813107 |
| |
0.813078 |
| |
0.813028 |
| |
0.813019 |
| |
0.813019 |
| |
0.812995 |
|
|
|
|
|
 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.
|
