|
|
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 |
| |
0.655453 |
| |
0.655400 |
| |
0.654995 |
| |
0.654879 |
| |
0.654859 |
| |
0.654853 |
| |
0.654716 |
| |
0.654695 |
| |
0.654514 |
| |
0.654476 |
| |
0.654400 |
| |
0.654076 |
| |
0.654061 |
| |
0.654036 |
| |
0.654034 |
| |
0.653985 |
| |
0.653974 |
| |
0.653952 |
| |
0.653870 |
| |
0.653685 |
| |
0.653617 |
| |
0.653429 |
| |
0.653217 |
| |
0.653217 |
| |
0.653134 |
|
|
|
|
|
 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.
|
