|
|
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 |
| |
0.553421 |
| |
0.553395 |
| |
0.553296 |
| |
0.553198 |
| |
0.552762 |
| |
0.552728 |
| |
0.552682 |
| |
0.552673 |
| |
0.552638 |
| |
0.552594 |
| |
0.552586 |
| |
0.552556 |
| |
0.552495 |
| |
0.552434 |
| |
0.552425 |
| |
0.552417 |
| |
0.552391 |
| |
0.552356 |
| |
0.552305 |
| |
0.552253 |
| |
0.551961 |
| |
0.551773 |
| |
0.551681 |
| |
0.551630 |
| |
0.551470 |
|
|
|
|
|
 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.
|
