|
|
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 |
| |
0.820600 |
| |
0.820561 |
| |
0.820364 |
| |
0.820323 |
| |
0.820309 |
| |
0.819959 |
| |
0.819936 |
| |
0.819936 |
| |
0.819839 |
| |
0.819501 |
| |
0.818891 |
| |
0.818726 |
| |
0.818706 |
| |
0.818594 |
| |
0.818536 |
| |
0.818491 |
| |
0.818458 |
| |
0.818454 |
| |
0.818454 |
| |
0.818246 |
| |
0.818173 |
| |
0.817869 |
| |
0.817815 |
| |
0.817668 |
| |
0.817565 |
|
|
|
|
|
 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.
|
