|
|
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 |
| |
0.873038 |
| |
0.873012 |
| |
0.873009 |
| |
0.872944 |
| |
0.872933 |
| |
0.872918 |
| |
0.872904 |
| |
0.872897 |
| |
0.872669 |
| |
0.872669 |
| |
0.872654 |
| |
0.872650 |
| |
0.872405 |
| |
0.872362 |
| |
0.872325 |
| |
0.872281 |
| |
0.872281 |
| |
0.872281 |
| |
0.872271 |
| |
0.872235 |
| |
0.872234 |
| |
0.872090 |
| |
0.871996 |
| |
0.871926 |
| |
0.871866 |
|
|
|
|
|
 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.
|
