|
|
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 |
| |
0.852562 |
| |
0.852485 |
| |
0.852118 |
| |
0.852058 |
| |
0.852020 |
| |
0.852016 |
| |
0.851997 |
| |
0.851949 |
| |
0.851945 |
| |
0.851941 |
| |
0.851763 |
| |
0.851641 |
| |
0.851570 |
| |
0.851562 |
| |
0.851547 |
| |
0.851496 |
| |
0.851429 |
| |
0.851414 |
| |
0.851335 |
| |
0.851322 |
| |
0.851305 |
| |
0.851183 |
| |
0.851149 |
| |
0.851094 |
| |
0.851084 |
|
|
|
|
|
 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.
|
