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