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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.
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| Symbol | Correlation |
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0.934960 |
| |
0.934952 |
| |
0.934935 |
| |
0.934910 |
| |
0.934874 |
| |
0.934820 |
| |
0.934820 |
| |
0.934815 |
| |
0.934806 |
| |
0.934760 |
| |
0.934704 |
| |
0.934693 |
| |
0.934692 |
| |
0.934690 |
| |
0.934674 |
| |
0.934576 |
| |
0.934575 |
| |
0.934565 |
| |
0.934552 |
| |
0.934517 |
| |
0.934477 |
| |
0.934463 |
| |
0.934422 |
| |
0.934420 |
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0.934409 |
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 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.
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