|
|
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 |
| |
0.639127 |
| |
0.638991 |
| |
0.638514 |
| |
0.637932 |
| |
0.637664 |
| |
0.637461 |
| |
0.637310 |
| |
0.637165 |
| |
0.636968 |
| |
0.636946 |
| |
0.636889 |
| |
0.636740 |
| |
0.636653 |
| |
0.636493 |
| |
0.636472 |
| |
0.636456 |
| |
0.636318 |
| |
0.636023 |
| |
0.635677 |
| |
0.635125 |
| |
0.635046 |
| |
0.635022 |
| |
0.634666 |
| |
0.634557 |
| |
0.634557 |
|
|
|
|
|
 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.
|
