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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.
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| Symbol | Correlation |
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0.611928 |
| |
0.611908 |
| |
0.611813 |
| |
0.611376 |
| |
0.611362 |
| |
0.610945 |
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0.610861 |
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0.610523 |
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0.610353 |
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0.610329 |
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0.610287 |
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0.610077 |
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0.609936 |
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0.609930 |
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0.609743 |
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0.609505 |
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0.609360 |
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0.609320 |
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0.609287 |
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0.609271 |
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0.609196 |
| |
0.609158 |
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0.608914 |
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0.608895 |
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0.608808 |
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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.
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