|
|
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 |
| |
0.606669 |
| |
0.606594 |
| |
0.606580 |
| |
0.606504 |
| |
0.606473 |
| |
0.606152 |
| |
0.606137 |
| |
0.606135 |
| |
0.605922 |
| |
0.605837 |
| |
0.605780 |
| |
0.605723 |
| |
0.605381 |
| |
0.605255 |
| |
0.605225 |
| |
0.605015 |
| |
0.604945 |
| |
0.604861 |
| |
0.604860 |
| |
0.604859 |
| |
0.604795 |
| |
0.604790 |
| |
0.604717 |
| |
0.604636 |
| |
0.604596 |
|
|
|
|
|
 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.
|
