|
|
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 |
| |
0.593924 |
| |
0.593760 |
| |
0.593687 |
| |
0.593664 |
| |
0.592489 |
| |
0.591413 |
| |
0.591179 |
| |
0.590446 |
| |
0.590351 |
| |
0.589927 |
| |
0.589735 |
| |
0.588270 |
| |
0.588168 |
| |
0.588013 |
| |
0.584623 |
| |
0.584288 |
| |
0.584116 |
| |
0.581848 |
| |
0.581666 |
| |
0.580099 |
| |
0.579868 |
| |
0.579563 |
| |
0.579095 |
| |
0.579027 |
| |
0.578980 |
|
|
|
|
|
 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.
|
