|
|
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 |
| |
0.680774 |
| |
0.680753 |
| |
0.680638 |
| |
0.680618 |
| |
0.680541 |
| |
0.680541 |
| |
0.680466 |
| |
0.680466 |
| |
0.680466 |
| |
0.680359 |
| |
0.680293 |
| |
0.680293 |
| |
0.680288 |
| |
0.680288 |
| |
0.680271 |
| |
0.680262 |
| |
0.680235 |
| |
0.680234 |
| |
0.680197 |
| |
0.680120 |
| |
0.680101 |
| |
0.680101 |
| |
0.680048 |
| |
0.680038 |
| |
0.680031 |
|
|
|
|
|
 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.
|
