|
|
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 |
| |
0.705353 |
| |
0.705289 |
| |
0.705093 |
| |
0.704501 |
| |
0.704423 |
| |
0.704089 |
| |
0.704084 |
| |
0.704058 |
| |
0.703937 |
| |
0.703904 |
| |
0.703574 |
| |
0.703572 |
| |
0.703173 |
| |
0.703075 |
| |
0.703069 |
| |
0.702678 |
| |
0.702635 |
| |
0.702404 |
| |
0.702096 |
| |
0.702084 |
| |
0.701949 |
| |
0.701942 |
| |
0.701908 |
| |
0.701907 |
| |
0.701752 |
|
|
|
|
|
 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.
|
