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