|
|
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 |
| |
0.590520 |
| |
0.590520 |
| |
0.590503 |
| |
0.590287 |
| |
0.590145 |
| |
0.590127 |
| |
0.590124 |
| |
0.590106 |
| |
0.590041 |
| |
0.589925 |
| |
0.589855 |
| |
0.589852 |
| |
0.589719 |
| |
0.589637 |
| |
0.589529 |
| |
0.589465 |
| |
0.589429 |
| |
0.589284 |
| |
0.589284 |
| |
0.589230 |
| |
0.588940 |
| |
0.588785 |
| |
0.588741 |
| |
0.588646 |
| |
0.588643 |
|
|
|
|
|
 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.
|
