|
|
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 |
| |
0.609011 |
| |
0.608989 |
| |
0.608950 |
| |
0.608950 |
| |
0.608883 |
| |
0.608883 |
| |
0.608857 |
| |
0.608840 |
| |
0.608797 |
| |
0.608788 |
| |
0.608739 |
| |
0.608707 |
| |
0.608707 |
| |
0.608696 |
| |
0.608690 |
| |
0.608655 |
| |
0.608654 |
| |
0.608460 |
| |
0.608452 |
| |
0.608444 |
| |
0.608427 |
| |
0.608426 |
| |
0.608410 |
| |
0.608388 |
| |
0.608388 |
|
|
|
|
|
 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.
|
