|
|
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 |
| |
0.705762 |
| |
0.705745 |
| |
0.705745 |
| |
0.705596 |
| |
0.705176 |
| |
0.704770 |
| |
0.704752 |
| |
0.704744 |
| |
0.704734 |
| |
0.704734 |
| |
0.704472 |
| |
0.704435 |
| |
0.704397 |
| |
0.704325 |
| |
0.704202 |
| |
0.704112 |
| |
0.704075 |
| |
0.704002 |
| |
0.703999 |
| |
0.703852 |
| |
0.703772 |
| |
0.703665 |
| |
0.703662 |
| |
0.703600 |
| |
0.703568 |
|
|
|
|
|
 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.
|
