|
|
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 |
| |
0.690463 |
| |
0.690422 |
| |
0.690422 |
| |
0.690163 |
| |
0.690162 |
| |
0.690130 |
| |
0.690107 |
| |
0.690094 |
| |
0.689983 |
| |
0.689959 |
| |
0.689566 |
| |
0.689554 |
| |
0.689427 |
| |
0.689152 |
| |
0.688878 |
| |
0.688677 |
| |
0.688615 |
| |
0.688436 |
| |
0.688395 |
| |
0.688370 |
| |
0.687795 |
| |
0.687753 |
| |
0.687641 |
| |
0.687590 |
| |
0.687579 |
|
|
|
|
|
 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.
|
