|
|
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 |
| |
0.430440 |
| |
0.430305 |
| |
0.429797 |
| |
0.429637 |
| |
0.429382 |
| |
0.428920 |
| |
0.428802 |
| |
0.428771 |
| |
0.428603 |
| |
0.428476 |
| |
0.428179 |
| |
0.428013 |
| |
0.428005 |
| |
0.427765 |
| |
0.427703 |
| |
0.427680 |
| |
0.427625 |
| |
0.427524 |
| |
0.427454 |
| |
0.427361 |
| |
0.427156 |
| |
0.426982 |
| |
0.426736 |
| |
0.426608 |
| |
0.426423 |
|
|
|
|
|
 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.
|
