|
|
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 |
| |
0.931920 |
| |
0.931862 |
| |
0.931860 |
| |
0.931855 |
| |
0.931795 |
| |
0.931775 |
| |
0.931767 |
| |
0.931763 |
| |
0.931723 |
| |
0.931716 |
| |
0.931693 |
| |
0.931692 |
| |
0.931602 |
| |
0.931592 |
| |
0.931505 |
| |
0.931477 |
| |
0.931472 |
| |
0.931467 |
| |
0.931463 |
| |
0.931419 |
| |
0.931417 |
| |
0.931411 |
| |
0.931274 |
| |
0.931266 |
| |
0.931239 |
|
|
|
|
|
 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.
|
