|
|
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 |
| |
0.588985 |
| |
0.588957 |
| |
0.588943 |
| |
0.588918 |
| |
0.588902 |
| |
0.588777 |
| |
0.588741 |
| |
0.588634 |
| |
0.588634 |
| |
0.588542 |
| |
0.588469 |
| |
0.588465 |
| |
0.588455 |
| |
0.588424 |
| |
0.588407 |
| |
0.588334 |
| |
0.588306 |
| |
0.588290 |
| |
0.588164 |
| |
0.588137 |
| |
0.588137 |
| |
0.588136 |
| |
0.588112 |
| |
0.588098 |
| |
0.588073 |
|
|
|
|
|
 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.
|
