|
|
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 |
| |
0.585568 |
| |
0.585558 |
| |
0.585554 |
| |
0.585517 |
| |
0.585292 |
| |
0.585292 |
| |
0.585231 |
| |
0.585229 |
| |
0.585229 |
| |
0.585208 |
| |
0.585157 |
| |
0.585121 |
| |
0.584993 |
| |
0.584982 |
| |
0.584963 |
| |
0.584900 |
| |
0.584872 |
| |
0.584854 |
| |
0.584822 |
| |
0.584822 |
| |
0.584731 |
| |
0.584714 |
| |
0.584537 |
| |
0.584476 |
| |
0.584422 |
|
|
|
|
|
 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.
|
