|
|
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 |
| |
0.911314 |
| |
0.911307 |
| |
0.911284 |
| |
0.911284 |
| |
0.911282 |
| |
0.911258 |
| |
0.911246 |
| |
0.911241 |
| |
0.911238 |
| |
0.911234 |
| |
0.911228 |
| |
0.911217 |
| |
0.911214 |
| |
0.911148 |
| |
0.911130 |
| |
0.911128 |
| |
0.911102 |
| |
0.911094 |
| |
0.911077 |
| |
0.911069 |
| |
0.911067 |
| |
0.911032 |
| |
0.911029 |
| |
0.911027 |
| |
0.910996 |
|
|
|
|
|
 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.
|
