|
|
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 |
| |
0.677428 |
| |
0.677385 |
| |
0.677385 |
| |
0.677169 |
| |
0.677099 |
| |
0.677069 |
| |
0.677061 |
| |
0.676937 |
| |
0.676922 |
| |
0.676772 |
| |
0.676662 |
| |
0.676330 |
| |
0.676266 |
| |
0.676184 |
| |
0.675509 |
| |
0.675500 |
| |
0.675303 |
| |
0.675169 |
| |
0.675155 |
| |
0.674844 |
| |
0.674593 |
| |
0.674480 |
| |
0.674188 |
| |
0.674159 |
| |
0.674078 |
|
|
|
|
|
 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.
|
