|
|
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 |
| |
0.906421 |
| |
0.906401 |
| |
0.906352 |
| |
0.906350 |
| |
0.906331 |
| |
0.906292 |
| |
0.906288 |
| |
0.906283 |
| |
0.906264 |
| |
0.906257 |
| |
0.906256 |
| |
0.906252 |
| |
0.906224 |
| |
0.906208 |
| |
0.906193 |
| |
0.906183 |
| |
0.906173 |
| |
0.906157 |
| |
0.906148 |
| |
0.906061 |
| |
0.906037 |
| |
0.906036 |
| |
0.906035 |
| |
0.906030 |
| |
0.906029 |
|
|
|
|
|
 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.
|
