|
|
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 |
| |
0.907240 |
| |
0.907182 |
| |
0.907169 |
| |
0.907144 |
| |
0.906993 |
| |
0.906963 |
| |
0.906740 |
| |
0.906693 |
| |
0.906662 |
| |
0.906538 |
| |
0.906409 |
| |
0.906245 |
| |
0.906175 |
| |
0.906131 |
| |
0.906085 |
| |
0.906065 |
| |
0.905989 |
| |
0.905941 |
| |
0.905919 |
| |
0.905743 |
| |
0.905671 |
| |
0.905581 |
| |
0.905529 |
| |
0.905496 |
| |
0.905437 |
|
|
|
|
|
 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.
|
