|
|
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 |
| |
0.818222 |
| |
0.818212 |
| |
0.818192 |
| |
0.818005 |
| |
0.817978 |
| |
0.817926 |
| |
0.817890 |
| |
0.817881 |
| |
0.817709 |
| |
0.817692 |
| |
0.817648 |
| |
0.817645 |
| |
0.817562 |
| |
0.817444 |
| |
0.817429 |
| |
0.817383 |
| |
0.817351 |
| |
0.817314 |
| |
0.817297 |
| |
0.817244 |
| |
0.817233 |
| |
0.817202 |
| |
0.817184 |
| |
0.817158 |
| |
0.817133 |
|
|
|
|
|
 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.
|
