|
|
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 |
| |
0.681826 |
| |
0.681790 |
| |
0.681658 |
| |
0.681510 |
| |
0.681510 |
| |
0.681496 |
| |
0.681465 |
| |
0.681072 |
| |
0.680908 |
| |
0.680876 |
| |
0.679582 |
| |
0.679530 |
| |
0.679221 |
| |
0.679075 |
| |
0.678941 |
| |
0.678220 |
| |
0.678170 |
| |
0.678012 |
| |
0.677968 |
| |
0.677476 |
| |
0.677378 |
| |
0.677190 |
| |
0.677144 |
| |
0.676659 |
| |
0.676568 |
|
|
|
|
|
 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.
|
