|
|
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 |
| |
0.706130 |
| |
0.705497 |
| |
0.704699 |
| |
0.704509 |
| |
0.704189 |
| |
0.703439 |
| |
0.703345 |
| |
0.703029 |
| |
0.702181 |
| |
0.700972 |
| |
0.700943 |
| |
0.700939 |
| |
0.700838 |
| |
0.700721 |
| |
0.700583 |
| |
0.700581 |
| |
0.700396 |
| |
0.700342 |
| |
0.700313 |
| |
0.699841 |
| |
0.699434 |
| |
0.699149 |
| |
0.699149 |
| |
0.698988 |
| |
0.698862 |
|
|
|
|
|
 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.
|
