|
|
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 |
| |
0.652840 |
| |
0.652723 |
| |
0.652322 |
| |
0.652171 |
| |
0.652147 |
| |
0.652063 |
| |
0.652054 |
| |
0.651985 |
| |
0.651919 |
| |
0.651826 |
| |
0.651787 |
| |
0.651628 |
| |
0.651423 |
| |
0.651380 |
| |
0.651349 |
| |
0.651336 |
| |
0.651111 |
| |
0.651006 |
| |
0.650996 |
| |
0.650967 |
| |
0.650714 |
| |
0.650684 |
| |
0.650328 |
| |
0.650327 |
| |
0.650223 |
|
|
|
|
|
 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.
|
