|
|
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 |
| |
0.769272 |
| |
0.769208 |
| |
0.769208 |
| |
0.768962 |
| |
0.768959 |
| |
0.768568 |
| |
0.768568 |
| |
0.768390 |
| |
0.768236 |
| |
0.768219 |
| |
0.768176 |
| |
0.768092 |
| |
0.767977 |
| |
0.767975 |
| |
0.767079 |
| |
0.766930 |
| |
0.766921 |
| |
0.766856 |
| |
0.766713 |
| |
0.766191 |
| |
0.766125 |
| |
0.766021 |
| |
0.765395 |
| |
0.765331 |
| |
0.765187 |
|
|
|
|
|
 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.
|
