|
|
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 |
| |
0.702286 |
| |
0.702163 |
| |
0.702163 |
| |
0.702134 |
| |
0.701986 |
| |
0.701978 |
| |
0.701975 |
| |
0.701955 |
| |
0.701907 |
| |
0.701863 |
| |
0.701861 |
| |
0.701798 |
| |
0.701795 |
| |
0.701795 |
| |
0.701793 |
| |
0.701793 |
| |
0.701737 |
| |
0.701731 |
| |
0.701619 |
| |
0.701615 |
| |
0.701513 |
| |
0.701429 |
| |
0.701389 |
| |
0.701387 |
| |
0.701352 |
|
|
|
|
|
 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.
|
