|
|
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 |
| |
0.965197 |
| |
0.965014 |
| |
0.964961 |
| |
0.964949 |
| |
0.964913 |
| |
0.964808 |
| |
0.964680 |
| |
0.964654 |
| |
0.964620 |
| |
0.964508 |
| |
0.964422 |
| |
0.964401 |
| |
0.964289 |
| |
0.964281 |
| |
0.964220 |
| |
0.963964 |
| |
0.963964 |
| |
0.963960 |
| |
0.963909 |
| |
0.963900 |
| |
0.963804 |
| |
0.963770 |
| |
0.963747 |
| |
0.963710 |
| |
0.963646 |
|
|
|
|
|
 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.
|
