|
|
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 |
| |
0.942430 |
| |
0.942427 |
| |
0.942400 |
| |
0.942380 |
| |
0.942373 |
| |
0.942372 |
| |
0.942339 |
| |
0.942325 |
| |
0.942311 |
| |
0.942310 |
| |
0.942308 |
| |
0.942293 |
| |
0.942256 |
| |
0.942243 |
| |
0.942237 |
| |
0.942224 |
| |
0.942223 |
| |
0.942206 |
| |
0.942187 |
| |
0.942187 |
| |
0.942110 |
| |
0.942093 |
| |
0.942030 |
| |
0.941992 |
| |
0.941988 |
|
|
|
|
|
 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.
|
