|
|
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 |
| |
0.788351 |
| |
0.788306 |
| |
0.788250 |
| |
0.788173 |
| |
0.788172 |
| |
0.788157 |
| |
0.788111 |
| |
0.788000 |
| |
0.787995 |
| |
0.787995 |
| |
0.787961 |
| |
0.787961 |
| |
0.787740 |
| |
0.787702 |
| |
0.787696 |
| |
0.787696 |
| |
0.787556 |
| |
0.787556 |
| |
0.787535 |
| |
0.787395 |
| |
0.787333 |
| |
0.787270 |
| |
0.787208 |
| |
0.787208 |
| |
0.787037 |
|
|
|
|
|
 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.
|
