|
|
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 |
| |
0.848907 |
| |
0.848907 |
| |
0.848869 |
| |
0.848869 |
| |
0.848721 |
| |
0.848607 |
| |
0.848324 |
| |
0.848286 |
| |
0.847942 |
| |
0.847783 |
| |
0.847294 |
| |
0.846267 |
| |
0.846213 |
| |
0.846113 |
| |
0.846092 |
| |
0.846014 |
| |
0.845989 |
| |
0.845926 |
| |
0.845546 |
| |
0.845404 |
| |
0.845208 |
| |
0.845095 |
| |
0.845076 |
| |
0.844963 |
| |
0.844640 |
|
|
|
|
|
 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.
|
