|
|
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 |
| |
0.651419 |
| |
0.651353 |
| |
0.650976 |
| |
0.650903 |
| |
0.650673 |
| |
0.650495 |
| |
0.650447 |
| |
0.650447 |
| |
0.649865 |
| |
0.649380 |
| |
0.649005 |
| |
0.648634 |
| |
0.648584 |
| |
0.648540 |
| |
0.648213 |
| |
0.647999 |
| |
0.647989 |
| |
0.647907 |
| |
0.647869 |
| |
0.647817 |
| |
0.647816 |
| |
0.647797 |
| |
0.647775 |
| |
0.647708 |
| |
0.647584 |
|
|
|
|
|
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.
|