|
|
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 |
| |
0.641965 |
| |
0.641699 |
| |
0.641692 |
| |
0.641664 |
| |
0.641420 |
| |
0.641366 |
| |
0.640957 |
| |
0.640940 |
| |
0.640910 |
| |
0.640868 |
| |
0.640664 |
| |
0.640650 |
| |
0.640545 |
| |
0.640361 |
| |
0.640213 |
| |
0.640182 |
| |
0.640136 |
| |
0.640059 |
| |
0.639986 |
| |
0.639866 |
| |
0.639763 |
| |
0.639724 |
| |
0.639483 |
| |
0.638893 |
| |
0.638780 |
|
|
|
|
|
 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.
|
