|
|
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 |
| |
0.668337 |
| |
0.668233 |
| |
0.668162 |
| |
0.668130 |
| |
0.667699 |
| |
0.667687 |
| |
0.667654 |
| |
0.666973 |
| |
0.666742 |
| |
0.666524 |
| |
0.666489 |
| |
0.666444 |
| |
0.666286 |
| |
0.666158 |
| |
0.666095 |
| |
0.665920 |
| |
0.665725 |
| |
0.665420 |
| |
0.665149 |
| |
0.664955 |
| |
0.664924 |
| |
0.664155 |
| |
0.664077 |
| |
0.664061 |
| |
0.663964 |
|
|
|
|
|
 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.
|
