|
|
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 |
| |
0.391983 |
| |
0.391688 |
| |
0.391593 |
| |
0.391507 |
| |
0.391031 |
| |
0.390831 |
| |
0.390831 |
| |
0.390653 |
| |
0.390643 |
| |
0.390458 |
| |
0.390425 |
| |
0.390378 |
| |
0.390357 |
| |
0.390280 |
| |
0.390100 |
| |
0.390021 |
| |
0.389946 |
| |
0.389823 |
| |
0.389794 |
| |
0.389778 |
| |
0.389557 |
| |
0.389554 |
| |
0.389509 |
| |
0.389237 |
| |
0.389096 |
|
|
|
|
|
 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.
|
