|
|
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 |
| |
0.920486 |
| |
0.920485 |
| |
0.920473 |
| |
0.920439 |
| |
0.920399 |
| |
0.920352 |
| |
0.920347 |
| |
0.920328 |
| |
0.920307 |
| |
0.920297 |
| |
0.920286 |
| |
0.920244 |
| |
0.920225 |
| |
0.920207 |
| |
0.920192 |
| |
0.920175 |
| |
0.920168 |
| |
0.920155 |
| |
0.920142 |
| |
0.920137 |
| |
0.920134 |
| |
0.920113 |
| |
0.920110 |
| |
0.920096 |
| |
0.920009 |
|
|
|
|
|
 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.
|
