|
|
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 |
| |
0.598335 |
| |
0.598335 |
| |
0.598312 |
| |
0.598310 |
| |
0.598291 |
| |
0.598187 |
| |
0.598135 |
| |
0.598109 |
| |
0.597967 |
| |
0.597826 |
| |
0.597805 |
| |
0.597805 |
| |
0.597743 |
| |
0.597704 |
| |
0.597695 |
| |
0.597695 |
| |
0.597620 |
| |
0.597618 |
| |
0.597618 |
| |
0.597570 |
| |
0.597561 |
| |
0.597554 |
| |
0.597547 |
| |
0.597488 |
| |
0.597481 |
|
|
|
|
|
 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.
|
