|
|
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 |
| |
0.922099 |
| |
0.922013 |
| |
0.921928 |
| |
0.921694 |
| |
0.921401 |
| |
0.921035 |
| |
0.920984 |
| |
0.920905 |
| |
0.920830 |
| |
0.920808 |
| |
0.920742 |
| |
0.920678 |
| |
0.920605 |
| |
0.920372 |
| |
0.920339 |
| |
0.920328 |
| |
0.920180 |
| |
0.920173 |
| |
0.920071 |
| |
0.919861 |
| |
0.919665 |
| |
0.918953 |
| |
0.918855 |
| |
0.918769 |
| |
0.918671 |
|
|
|
|
|
 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.
|
