|
|
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 |
| |
0.588638 |
| |
0.588638 |
| |
0.588573 |
| |
0.588556 |
| |
0.588542 |
| |
0.588453 |
| |
0.588453 |
| |
0.588392 |
| |
0.588391 |
| |
0.588347 |
| |
0.588311 |
| |
0.588310 |
| |
0.588243 |
| |
0.588210 |
| |
0.588192 |
| |
0.588176 |
| |
0.588159 |
| |
0.588159 |
| |
0.588128 |
| |
0.588092 |
| |
0.588091 |
| |
0.588073 |
| |
0.588029 |
| |
0.587972 |
| |
0.587957 |
|
|
|
|
|
 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.
|
