|
|
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 |
| |
0.617540 |
| |
0.617519 |
| |
0.617468 |
| |
0.617442 |
| |
0.617378 |
| |
0.617377 |
| |
0.617299 |
| |
0.617098 |
| |
0.616960 |
| |
0.616959 |
| |
0.616631 |
| |
0.616516 |
| |
0.616425 |
| |
0.616385 |
| |
0.616375 |
| |
0.616359 |
| |
0.616201 |
| |
0.616187 |
| |
0.616108 |
| |
0.616105 |
| |
0.615960 |
| |
0.615930 |
| |
0.615704 |
| |
0.615703 |
| |
0.615682 |
|
|
|
|
|
 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.
|
