|
|
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 |
| |
0.929873 |
| |
0.929795 |
| |
0.929780 |
| |
0.929750 |
| |
0.929743 |
| |
0.929691 |
| |
0.929647 |
| |
0.929641 |
| |
0.929615 |
| |
0.929582 |
| |
0.929572 |
| |
0.929545 |
| |
0.929485 |
| |
0.929444 |
| |
0.929437 |
| |
0.929428 |
| |
0.929358 |
| |
0.929351 |
| |
0.929321 |
| |
0.929234 |
| |
0.929222 |
| |
0.929187 |
| |
0.929183 |
| |
0.929145 |
| |
0.929141 |
|
|
|
|
|
 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.
|
