|
|
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 |
| |
0.870836 |
| |
0.870750 |
| |
0.870605 |
| |
0.870543 |
| |
0.870517 |
| |
0.870497 |
| |
0.870488 |
| |
0.870415 |
| |
0.870378 |
| |
0.870356 |
| |
0.870325 |
| |
0.870308 |
| |
0.870209 |
| |
0.870142 |
| |
0.870105 |
| |
0.870080 |
| |
0.870059 |
| |
0.870007 |
| |
0.869950 |
| |
0.869934 |
| |
0.869876 |
| |
0.869851 |
| |
0.869851 |
| |
0.869844 |
| |
0.869801 |
|
|
|
|
|
 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.
|
