|
|
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 |
| |
0.679965 |
| |
0.679923 |
| |
0.679905 |
| |
0.679895 |
| |
0.679873 |
| |
0.679804 |
| |
0.679742 |
| |
0.679716 |
| |
0.679689 |
| |
0.679686 |
| |
0.679604 |
| |
0.679604 |
| |
0.679561 |
| |
0.679561 |
| |
0.679317 |
| |
0.679220 |
| |
0.679214 |
| |
0.679191 |
| |
0.679175 |
| |
0.679163 |
| |
0.679132 |
| |
0.679132 |
| |
0.679129 |
| |
0.679126 |
| |
0.679126 |
|
|
|
|
|
 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.
|
