|
|
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 |
| |
0.802712 |
| |
0.802623 |
| |
0.802620 |
| |
0.802568 |
| |
0.802479 |
| |
0.802474 |
| |
0.802437 |
| |
0.802394 |
| |
0.802393 |
| |
0.802341 |
| |
0.802332 |
| |
0.802318 |
| |
0.802287 |
| |
0.802282 |
| |
0.802263 |
| |
0.802193 |
| |
0.802175 |
| |
0.802158 |
| |
0.802147 |
| |
0.802139 |
| |
0.802051 |
| |
0.802048 |
| |
0.802010 |
| |
0.802003 |
| |
0.801987 |
|
|
|
|
|
 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.
|
