|
|
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 |
| |
0.709666 |
| |
0.709629 |
| |
0.709569 |
| |
0.709562 |
| |
0.709541 |
| |
0.709506 |
| |
0.709498 |
| |
0.709402 |
| |
0.709319 |
| |
0.709228 |
| |
0.709206 |
| |
0.708987 |
| |
0.708875 |
| |
0.708875 |
| |
0.708595 |
| |
0.708503 |
| |
0.708480 |
| |
0.708310 |
| |
0.708253 |
| |
0.708196 |
| |
0.708174 |
| |
0.707990 |
| |
0.707962 |
| |
0.707962 |
| |
0.707721 |
|
|
|
|
|
 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.
|
