|
|
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 |
| |
0.606941 |
| |
0.606851 |
| |
0.606710 |
| |
0.606710 |
| |
0.606495 |
| |
0.606102 |
| |
0.606086 |
| |
0.605959 |
| |
0.605938 |
| |
0.605856 |
| |
0.605600 |
| |
0.605408 |
| |
0.605384 |
| |
0.605229 |
| |
0.605229 |
| |
0.605228 |
| |
0.605186 |
| |
0.604999 |
| |
0.604809 |
| |
0.604780 |
| |
0.604662 |
| |
0.604596 |
| |
0.604120 |
| |
0.603801 |
| |
0.603736 |
|
|
|
|
|
 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.
|
