|
|
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 |
| |
0.880352 |
| |
0.878518 |
| |
0.874820 |
| |
0.873700 |
| |
0.868189 |
| |
0.868049 |
| |
0.868049 |
| |
0.865938 |
| |
0.865581 |
| |
0.865051 |
| |
0.864401 |
| |
0.864330 |
| |
0.864205 |
| |
0.863640 |
| |
0.863129 |
| |
0.862874 |
| |
0.862607 |
| |
0.862251 |
| |
0.859945 |
| |
0.857420 |
| |
0.856751 |
| |
0.856440 |
| |
0.856157 |
| |
0.855246 |
| |
0.854710 |
|
|
|
|
|
 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.
|
