|
|
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 |
| |
0.671833 |
| |
0.671796 |
| |
0.671790 |
| |
0.671764 |
| |
0.671742 |
| |
0.671723 |
| |
0.671667 |
| |
0.671600 |
| |
0.671599 |
| |
0.671590 |
| |
0.671490 |
| |
0.671462 |
| |
0.671410 |
| |
0.671366 |
| |
0.671326 |
| |
0.671239 |
| |
0.671184 |
| |
0.671165 |
| |
0.671164 |
| |
0.670970 |
| |
0.670962 |
| |
0.670954 |
| |
0.670953 |
| |
0.670950 |
| |
0.670950 |
|
|
|
|
|
 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.
|
