|
|
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 |
| |
0.644119 |
| |
0.643839 |
| |
0.643698 |
| |
0.643212 |
| |
0.642944 |
| |
0.642898 |
| |
0.642430 |
| |
0.641362 |
| |
0.641139 |
| |
0.641009 |
| |
0.640925 |
| |
0.640794 |
| |
0.640771 |
| |
0.640544 |
| |
0.640213 |
| |
0.640057 |
| |
0.640034 |
| |
0.639846 |
| |
0.639818 |
| |
0.639787 |
| |
0.639786 |
| |
0.639686 |
| |
0.639641 |
| |
0.639545 |
| |
0.639491 |
|
|
|
|
|
 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.
|
