|
|
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 |
| |
0.596503 |
| |
0.596495 |
| |
0.596471 |
| |
0.596405 |
| |
0.596387 |
| |
0.596294 |
| |
0.596292 |
| |
0.595994 |
| |
0.595987 |
| |
0.595858 |
| |
0.595789 |
| |
0.595762 |
| |
0.595613 |
| |
0.595613 |
| |
0.595607 |
| |
0.595595 |
| |
0.595586 |
| |
0.595570 |
| |
0.595551 |
| |
0.595533 |
| |
0.595522 |
| |
0.595443 |
| |
0.595443 |
| |
0.595397 |
| |
0.595347 |
|
|
|
|
|
 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.
|
