|
|
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 |
| |
0.936336 |
| |
0.936317 |
| |
0.936236 |
| |
0.936226 |
| |
0.936205 |
| |
0.936187 |
| |
0.936111 |
| |
0.936098 |
| |
0.936078 |
| |
0.936032 |
| |
0.936030 |
| |
0.935968 |
| |
0.935954 |
| |
0.935898 |
| |
0.935851 |
| |
0.935839 |
| |
0.935787 |
| |
0.935726 |
| |
0.935702 |
| |
0.935700 |
| |
0.935693 |
| |
0.935693 |
| |
0.935664 |
| |
0.935627 |
| |
0.935600 |
|
|
|
|
|
 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.
|
