|
|
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 |
| |
0.658186 |
| |
0.658161 |
| |
0.658048 |
| |
0.657991 |
| |
0.657798 |
| |
0.657712 |
| |
0.657601 |
| |
0.657397 |
| |
0.657187 |
| |
0.656948 |
| |
0.656893 |
| |
0.656799 |
| |
0.656389 |
| |
0.656370 |
| |
0.655869 |
| |
0.655733 |
| |
0.655457 |
| |
0.655424 |
| |
0.655396 |
| |
0.655351 |
| |
0.655305 |
| |
0.655163 |
| |
0.655152 |
| |
0.655150 |
| |
0.655015 |
|
|
|
|
|
 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.
|
