|
|
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 |
| |
0.908950 |
| |
0.908931 |
| |
0.908920 |
| |
0.908910 |
| |
0.908906 |
| |
0.908896 |
| |
0.908893 |
| |
0.908890 |
| |
0.908875 |
| |
0.908865 |
| |
0.908859 |
| |
0.908847 |
| |
0.908846 |
| |
0.908842 |
| |
0.908832 |
| |
0.908779 |
| |
0.908776 |
| |
0.908773 |
| |
0.908758 |
| |
0.908741 |
| |
0.908722 |
| |
0.908709 |
| |
0.908675 |
| |
0.908665 |
| |
0.908662 |
|
|
|
|
|
 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.
|
