|
|
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 |
| |
0.690538 |
| |
0.690271 |
| |
0.690191 |
| |
0.690048 |
| |
0.689953 |
| |
0.689939 |
| |
0.689746 |
| |
0.689535 |
| |
0.689398 |
| |
0.688952 |
| |
0.688829 |
| |
0.688627 |
| |
0.687572 |
| |
0.687555 |
| |
0.687415 |
| |
0.687381 |
| |
0.687331 |
| |
0.687050 |
| |
0.686786 |
| |
0.686724 |
| |
0.686721 |
| |
0.686244 |
| |
0.686235 |
| |
0.685945 |
| |
0.685933 |
|
|
|
|
|
 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.
|
