|
|
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 |
| |
0.897240 |
| |
0.897226 |
| |
0.897169 |
| |
0.896950 |
| |
0.896797 |
| |
0.896757 |
| |
0.896709 |
| |
0.896661 |
| |
0.896646 |
| |
0.896555 |
| |
0.896507 |
| |
0.896476 |
| |
0.896473 |
| |
0.896426 |
| |
0.896346 |
| |
0.896321 |
| |
0.896276 |
| |
0.896183 |
| |
0.896166 |
| |
0.896125 |
| |
0.895937 |
| |
0.895928 |
| |
0.895899 |
| |
0.895884 |
| |
0.895881 |
|
|
|
|
|
 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.
|
