|
|
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 |
| |
0.783818 |
| |
0.783678 |
| |
0.783575 |
| |
0.783503 |
| |
0.783403 |
| |
0.783401 |
| |
0.783385 |
| |
0.783346 |
| |
0.783159 |
| |
0.783147 |
| |
0.782992 |
| |
0.782703 |
| |
0.782605 |
| |
0.782506 |
| |
0.782445 |
| |
0.782403 |
| |
0.782339 |
| |
0.782250 |
| |
0.782219 |
| |
0.782208 |
| |
0.782002 |
| |
0.781986 |
| |
0.781842 |
| |
0.781767 |
| |
0.781689 |
|
|
|
|
|
 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.
|
