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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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0.934385 |
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0.934384 |
|
0.934376 |
|
0.934364 |
|
0.934312 |
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0.934298 |
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0.934293 |
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0.934285 |
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0.934223 |
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0.934204 |
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0.934204 |
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0.934183 |
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0.934183 |
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0.934154 |
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0.934142 |
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0.934087 |
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0.934079 |
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0.934071 |
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0.934059 |
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0.934045 |
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0.934037 |
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0.933993 |
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0.933970 |
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0.933952 |
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0.933919 |
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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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