|
|
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 |
| |
0.945389 |
| |
0.945354 |
| |
0.945259 |
| |
0.945238 |
| |
0.945163 |
| |
0.945043 |
| |
0.944881 |
| |
0.944859 |
| |
0.944701 |
| |
0.944687 |
| |
0.944673 |
| |
0.944667 |
| |
0.944660 |
| |
0.944495 |
| |
0.944214 |
| |
0.944212 |
| |
0.944081 |
| |
0.944042 |
| |
0.943955 |
| |
0.943940 |
| |
0.943935 |
| |
0.943929 |
| |
0.943858 |
| |
0.943826 |
| |
0.943818 |
|
|
|
|
|
 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.
|
