|
|
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 |
| |
0.881728 |
| |
0.881694 |
| |
0.881661 |
| |
0.881605 |
| |
0.881573 |
| |
0.881537 |
| |
0.881529 |
| |
0.881529 |
| |
0.881515 |
| |
0.881469 |
| |
0.881453 |
| |
0.881436 |
| |
0.881348 |
| |
0.881301 |
| |
0.881280 |
| |
0.881277 |
| |
0.881261 |
| |
0.881260 |
| |
0.881246 |
| |
0.881242 |
| |
0.881204 |
| |
0.881190 |
| |
0.881123 |
| |
0.881095 |
| |
0.881093 |
|
|
|
|
|
 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.
|
