|
|
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 |
| |
0.743664 |
| |
0.743613 |
| |
0.743564 |
| |
0.743499 |
| |
0.743286 |
| |
0.742976 |
| |
0.742714 |
| |
0.742678 |
| |
0.742646 |
| |
0.742552 |
| |
0.742363 |
| |
0.742209 |
| |
0.742113 |
| |
0.742072 |
| |
0.741810 |
| |
0.741732 |
| |
0.741705 |
| |
0.741668 |
| |
0.741662 |
| |
0.741529 |
| |
0.741364 |
| |
0.741176 |
| |
0.741096 |
| |
0.741039 |
| |
0.740986 |
|
|
|
|
|
 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.
|
