|
|
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 |
| |
0.803679 |
| |
0.802485 |
| |
0.800960 |
| |
0.800960 |
| |
0.800795 |
| |
0.799051 |
| |
0.798743 |
| |
0.798368 |
| |
0.796676 |
| |
0.795997 |
| |
0.795735 |
| |
0.794724 |
| |
0.794693 |
| |
0.794322 |
| |
0.794283 |
| |
0.794169 |
| |
0.793386 |
| |
0.793386 |
| |
0.793160 |
| |
0.791622 |
| |
0.789052 |
| |
0.788852 |
| |
0.788207 |
| |
0.787454 |
| |
0.786942 |
|
|
|
|
|
 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.
|
