|
|
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 |
| |
0.679124 |
| |
0.678973 |
| |
0.678888 |
| |
0.678853 |
| |
0.678836 |
| |
0.678777 |
| |
0.678749 |
| |
0.678715 |
| |
0.678715 |
| |
0.678676 |
| |
0.678552 |
| |
0.678481 |
| |
0.678481 |
| |
0.678440 |
| |
0.678440 |
| |
0.678395 |
| |
0.678393 |
| |
0.678393 |
| |
0.678215 |
| |
0.678210 |
| |
0.678200 |
| |
0.678017 |
| |
0.678017 |
| |
0.677992 |
| |
0.677984 |
|
|
|
|
|
 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.
|
