|
|
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 |
| |
0.693602 |
| |
0.693587 |
| |
0.693578 |
| |
0.693514 |
| |
0.693492 |
| |
0.693434 |
| |
0.693420 |
| |
0.693279 |
| |
0.693279 |
| |
0.693243 |
| |
0.693233 |
| |
0.693233 |
| |
0.693199 |
| |
0.693199 |
| |
0.693151 |
| |
0.693001 |
| |
0.692936 |
| |
0.692916 |
| |
0.692879 |
| |
0.692879 |
| |
0.692839 |
| |
0.692837 |
| |
0.692804 |
| |
0.692765 |
| |
0.692757 |
|
|
|
|
|
 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.
|
