|
|
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 |
| |
0.798796 |
| |
0.798792 |
| |
0.798792 |
| |
0.798786 |
| |
0.798767 |
| |
0.798693 |
| |
0.798674 |
| |
0.798652 |
| |
0.798641 |
| |
0.798604 |
| |
0.798585 |
| |
0.798583 |
| |
0.798574 |
| |
0.798558 |
| |
0.798528 |
| |
0.798509 |
| |
0.798467 |
| |
0.798432 |
| |
0.798423 |
| |
0.798421 |
| |
0.798413 |
| |
0.798219 |
| |
0.798197 |
| |
0.798186 |
| |
0.798119 |
|
|
|
|
|
 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.
|
