|
|
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 |
| |
0.590159 |
| |
0.590143 |
| |
0.590110 |
| |
0.590098 |
| |
0.590083 |
| |
0.590083 |
| |
0.590035 |
| |
0.589905 |
| |
0.589856 |
| |
0.589856 |
| |
0.589789 |
| |
0.589789 |
| |
0.589706 |
| |
0.589677 |
| |
0.589677 |
| |
0.589669 |
| |
0.589669 |
| |
0.589651 |
| |
0.589629 |
| |
0.589528 |
| |
0.589528 |
| |
0.589480 |
| |
0.589477 |
| |
0.589477 |
| |
0.589419 |
|
|
|
|
|
 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.
|
