|
|
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 |
| |
0.775101 |
| |
0.775058 |
| |
0.774993 |
| |
0.774612 |
| |
0.774426 |
| |
0.774401 |
| |
0.774360 |
| |
0.774156 |
| |
0.773933 |
| |
0.773933 |
| |
0.773897 |
| |
0.773760 |
| |
0.773742 |
| |
0.773703 |
| |
0.773445 |
| |
0.773276 |
| |
0.773143 |
| |
0.773063 |
| |
0.773062 |
| |
0.772959 |
| |
0.772551 |
| |
0.772548 |
| |
0.772536 |
| |
0.772469 |
| |
0.772466 |
|
|
|
|
|
 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.
|
