|
|
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 |
| |
0.612940 |
| |
0.612865 |
| |
0.612823 |
| |
0.612701 |
| |
0.612472 |
| |
0.612433 |
| |
0.612247 |
| |
0.612205 |
| |
0.612166 |
| |
0.612096 |
| |
0.611740 |
| |
0.611379 |
| |
0.611232 |
| |
0.611192 |
| |
0.611101 |
| |
0.611070 |
| |
0.611021 |
| |
0.610779 |
| |
0.610754 |
| |
0.610684 |
| |
0.610550 |
| |
0.610273 |
| |
0.610262 |
| |
0.610074 |
| |
0.610063 |
|
|
|
|
|
 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.
|
