|
|
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 |
| |
0.695941 |
| |
0.695925 |
| |
0.695903 |
| |
0.695889 |
| |
0.695812 |
| |
0.695806 |
| |
0.695785 |
| |
0.695770 |
| |
0.695770 |
| |
0.695752 |
| |
0.695679 |
| |
0.695678 |
| |
0.695632 |
| |
0.695632 |
| |
0.695612 |
| |
0.695612 |
| |
0.695513 |
| |
0.695504 |
| |
0.695496 |
| |
0.695494 |
| |
0.695291 |
| |
0.695238 |
| |
0.695223 |
| |
0.695206 |
| |
0.695206 |
|
|
|
|
|
 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.
|
