|
|
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 |
| |
0.666251 |
| |
0.666185 |
| |
0.666185 |
| |
0.666169 |
| |
0.666155 |
| |
0.666155 |
| |
0.666137 |
| |
0.666134 |
| |
0.666096 |
| |
0.666087 |
| |
0.666041 |
| |
0.666041 |
| |
0.666032 |
| |
0.666026 |
| |
0.665990 |
| |
0.665990 |
| |
0.665966 |
| |
0.665950 |
| |
0.665909 |
| |
0.665901 |
| |
0.665829 |
| |
0.665829 |
| |
0.665761 |
| |
0.665631 |
| |
0.665616 |
|
|
|
|
|
 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.
|
