|
|
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 |
| |
0.911283 |
| |
0.911021 |
| |
0.911016 |
| |
0.910930 |
| |
0.910915 |
| |
0.910898 |
| |
0.910894 |
| |
0.910843 |
| |
0.910826 |
| |
0.910759 |
| |
0.910687 |
| |
0.910614 |
| |
0.910553 |
| |
0.910364 |
| |
0.910101 |
| |
0.910044 |
| |
0.910044 |
| |
0.910043 |
| |
0.909904 |
| |
0.909823 |
| |
0.909810 |
| |
0.909729 |
| |
0.909722 |
| |
0.909722 |
| |
0.909661 |
|
|
|
|
|
 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.
|
