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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.
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| Symbol | Correlation |
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0.534940 |
| |
0.534906 |
| |
0.534812 |
| |
0.534812 |
| |
0.534406 |
| |
0.534233 |
| |
0.534185 |
| |
0.534039 |
| |
0.533935 |
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0.533871 |
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0.533853 |
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0.532814 |
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0.532600 |
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0.532324 |
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0.532293 |
| |
0.532195 |
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0.532126 |
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0.531973 |
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0.531951 |
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0.531882 |
| |
0.531850 |
| |
0.531668 |
| |
0.531592 |
| |
0.531509 |
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0.531492 |
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 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.
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