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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.
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| Symbol | Correlation |
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0.934377 |
| |
0.934310 |
| |
0.934301 |
| |
0.934294 |
| |
0.934181 |
| |
0.934038 |
| |
0.934036 |
| |
0.933975 |
| |
0.933927 |
| |
0.933774 |
| |
0.933700 |
| |
0.933676 |
| |
0.933676 |
| |
0.933656 |
| |
0.933634 |
| |
0.933602 |
| |
0.933584 |
| |
0.933547 |
| |
0.933524 |
| |
0.933440 |
| |
0.933351 |
| |
0.933336 |
| |
0.933326 |
| |
0.933319 |
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0.933276 |
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 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.
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