|
|
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 |
| |
0.711481 |
| |
0.711224 |
| |
0.711169 |
| |
0.710762 |
| |
0.710683 |
| |
0.710616 |
| |
0.710585 |
| |
0.710501 |
| |
0.710498 |
| |
0.710404 |
| |
0.710075 |
| |
0.710041 |
| |
0.710025 |
| |
0.710001 |
| |
0.709834 |
| |
0.709806 |
| |
0.709395 |
| |
0.709231 |
| |
0.709176 |
| |
0.709151 |
| |
0.709020 |
| |
0.708902 |
| |
0.708724 |
| |
0.708685 |
| |
0.708651 |
|
|
|
|
|
 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.
|
