|
|
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 |
| |
0.647348 |
| |
0.647089 |
| |
0.646960 |
| |
0.646587 |
| |
0.646370 |
| |
0.646260 |
| |
0.645951 |
| |
0.645840 |
| |
0.645828 |
| |
0.645821 |
| |
0.645563 |
| |
0.645306 |
| |
0.645092 |
| |
0.645080 |
| |
0.644903 |
| |
0.644811 |
| |
0.644760 |
| |
0.644666 |
| |
0.644578 |
| |
0.644546 |
| |
0.644510 |
| |
0.644359 |
| |
0.644215 |
| |
0.644069 |
| |
0.643783 |
|
|
|
|
|
 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.
|
