|
|
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 |
| |
0.621375 |
| |
0.621327 |
| |
0.621256 |
| |
0.621076 |
| |
0.620996 |
| |
0.620792 |
| |
0.620729 |
| |
0.620725 |
| |
0.620690 |
| |
0.620642 |
| |
0.620631 |
| |
0.620366 |
| |
0.620226 |
| |
0.620220 |
| |
0.619778 |
| |
0.619554 |
| |
0.619515 |
| |
0.619300 |
| |
0.619108 |
| |
0.619094 |
| |
0.618966 |
| |
0.618958 |
| |
0.618931 |
| |
0.618655 |
| |
0.618610 |
|
|
|
|
|
 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.
|
