|
|
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 |
| |
0.800375 |
| |
0.800247 |
| |
0.799810 |
| |
0.799618 |
| |
0.799580 |
| |
0.799207 |
| |
0.799137 |
| |
0.799083 |
| |
0.799033 |
| |
0.798596 |
| |
0.798469 |
| |
0.798327 |
| |
0.798327 |
| |
0.798158 |
| |
0.798158 |
| |
0.797936 |
| |
0.797894 |
| |
0.797753 |
| |
0.797568 |
| |
0.797366 |
| |
0.797151 |
| |
0.796908 |
| |
0.796708 |
| |
0.796556 |
| |
0.796528 |
|
|
|
|
|
 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.
|
