|
|
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 |
| |
0.788349 |
| |
0.788032 |
| |
0.787838 |
| |
0.787080 |
| |
0.786304 |
| |
0.786069 |
| |
0.785554 |
| |
0.785323 |
| |
0.785011 |
| |
0.785011 |
| |
0.784893 |
| |
0.784799 |
| |
0.784063 |
| |
0.783548 |
| |
0.783379 |
| |
0.783174 |
| |
0.782321 |
| |
0.782316 |
| |
0.781032 |
| |
0.780637 |
| |
0.780547 |
| |
0.780275 |
| |
0.779885 |
| |
0.779524 |
| |
0.779524 |
|
|
|
|
|
 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.
|
