|
|
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 |
| |
0.600186 |
| |
0.600118 |
| |
0.600109 |
| |
0.600050 |
| |
0.599967 |
| |
0.599902 |
| |
0.599756 |
| |
0.599755 |
| |
0.599712 |
| |
0.599434 |
| |
0.599429 |
| |
0.599177 |
| |
0.599169 |
| |
0.599167 |
| |
0.599065 |
| |
0.598903 |
| |
0.598780 |
| |
0.598779 |
| |
0.598731 |
| |
0.598727 |
| |
0.598713 |
| |
0.598712 |
| |
0.598579 |
| |
0.598478 |
| |
0.598315 |
|
|
|
|
|
 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.
|
