|
|
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 |
| |
0.782934 |
| |
0.782875 |
| |
0.782866 |
| |
0.782672 |
| |
0.782012 |
| |
0.781940 |
| |
0.781868 |
| |
0.781700 |
| |
0.781411 |
| |
0.781153 |
| |
0.781134 |
| |
0.781134 |
| |
0.781114 |
| |
0.781010 |
| |
0.780920 |
| |
0.780905 |
| |
0.780865 |
| |
0.780674 |
| |
0.780294 |
| |
0.780254 |
| |
0.780135 |
| |
0.780049 |
| |
0.780001 |
| |
0.779862 |
| |
0.779862 |
|
|
|
|
|
 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.
|
