|
|
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 |
| |
0.940969 |
| |
0.940882 |
| |
0.940881 |
| |
0.940874 |
| |
0.940765 |
| |
0.940742 |
| |
0.940721 |
| |
0.940672 |
| |
0.940642 |
| |
0.940556 |
| |
0.940531 |
| |
0.940527 |
| |
0.940503 |
| |
0.940389 |
| |
0.940389 |
| |
0.940339 |
| |
0.940323 |
| |
0.940322 |
| |
0.940278 |
| |
0.940226 |
| |
0.940117 |
| |
0.940075 |
| |
0.940035 |
| |
0.939981 |
| |
0.939950 |
|
|
|
|
|
 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.
|
