|
|
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 |
| |
0.866795 |
| |
0.866773 |
| |
0.866742 |
| |
0.866624 |
| |
0.866619 |
| |
0.866601 |
| |
0.866590 |
| |
0.866319 |
| |
0.866291 |
| |
0.866288 |
| |
0.866258 |
| |
0.866248 |
| |
0.866023 |
| |
0.865982 |
| |
0.865936 |
| |
0.865834 |
| |
0.865727 |
| |
0.865685 |
| |
0.865634 |
| |
0.865427 |
| |
0.865283 |
| |
0.865165 |
| |
0.865148 |
| |
0.865141 |
| |
0.865041 |
|
|
|
|
|
 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.
|
