|
|
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 |
| |
0.848093 |
| |
0.847934 |
| |
0.847904 |
| |
0.847895 |
| |
0.847862 |
| |
0.847857 |
| |
0.847854 |
| |
0.847738 |
| |
0.847655 |
| |
0.847566 |
| |
0.847513 |
| |
0.847513 |
| |
0.847486 |
| |
0.847443 |
| |
0.847367 |
| |
0.847306 |
| |
0.847270 |
| |
0.847268 |
| |
0.847230 |
| |
0.847185 |
| |
0.847174 |
| |
0.846999 |
| |
0.846956 |
| |
0.846906 |
| |
0.846843 |
|
|
|
|
|
 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.
|
