|
|
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 |
| |
0.660226 |
| |
0.659800 |
| |
0.659751 |
| |
0.659727 |
| |
0.659402 |
| |
0.659247 |
| |
0.659166 |
| |
0.659039 |
| |
0.658706 |
| |
0.658601 |
| |
0.658484 |
| |
0.658474 |
| |
0.658212 |
| |
0.657710 |
| |
0.657548 |
| |
0.657199 |
| |
0.657153 |
| |
0.656873 |
| |
0.656849 |
| |
0.656721 |
| |
0.656609 |
| |
0.656109 |
| |
0.656068 |
| |
0.655972 |
| |
0.655895 |
|
|
|
|
|
 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.
|
