|
|
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 |
| |
0.933820 |
| |
0.933779 |
| |
0.933771 |
| |
0.933745 |
| |
0.933649 |
| |
0.933610 |
| |
0.933359 |
| |
0.933041 |
| |
0.932971 |
| |
0.932848 |
| |
0.932787 |
| |
0.932708 |
| |
0.932706 |
| |
0.932517 |
| |
0.932513 |
| |
0.932251 |
| |
0.932251 |
| |
0.932105 |
| |
0.932068 |
| |
0.931950 |
| |
0.931885 |
| |
0.931881 |
| |
0.931863 |
| |
0.931671 |
| |
0.931615 |
|
|
|
|
|
 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.
|
