|
|
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 |
| |
0.885441 |
| |
0.885276 |
| |
0.885247 |
| |
0.885223 |
| |
0.885093 |
| |
0.885014 |
| |
0.884895 |
| |
0.884878 |
| |
0.884692 |
| |
0.884599 |
| |
0.884441 |
| |
0.884272 |
| |
0.884157 |
| |
0.884111 |
| |
0.883937 |
| |
0.883850 |
| |
0.883794 |
| |
0.883651 |
| |
0.883647 |
| |
0.883646 |
| |
0.883611 |
| |
0.883578 |
| |
0.883565 |
| |
0.883427 |
| |
0.883365 |
|
|
|
|
|
 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.
|
