|
|
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 |
| |
0.838403 |
| |
0.838236 |
| |
0.838234 |
| |
0.838080 |
| |
0.837776 |
| |
0.837725 |
| |
0.837644 |
| |
0.837633 |
| |
0.837508 |
| |
0.837405 |
| |
0.837328 |
| |
0.837057 |
| |
0.836955 |
| |
0.836505 |
| |
0.836463 |
| |
0.836418 |
| |
0.836407 |
| |
0.836358 |
| |
0.836355 |
| |
0.836250 |
| |
0.835916 |
| |
0.835612 |
| |
0.835533 |
| |
0.835488 |
| |
0.835487 |
|
|
|
|
|
 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.
|
