|
|
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 |
| |
0.644081 |
| |
0.644020 |
| |
0.643985 |
| |
0.643965 |
| |
0.643943 |
| |
0.643910 |
| |
0.643765 |
| |
0.643692 |
| |
0.643676 |
| |
0.643579 |
| |
0.643544 |
| |
0.643512 |
| |
0.643307 |
| |
0.643272 |
| |
0.643221 |
| |
0.643169 |
| |
0.643060 |
| |
0.642928 |
| |
0.642658 |
| |
0.642628 |
| |
0.642605 |
| |
0.642589 |
| |
0.642176 |
| |
0.642133 |
| |
0.642049 |
|
|
|
|
|
 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.
|
