|
|
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 |
| |
0.591225 |
| |
0.591222 |
| |
0.591175 |
| |
0.591114 |
| |
0.591074 |
| |
0.591032 |
| |
0.591028 |
| |
0.591011 |
| |
0.590998 |
| |
0.590976 |
| |
0.590773 |
| |
0.590690 |
| |
0.590677 |
| |
0.590665 |
| |
0.590621 |
| |
0.590494 |
| |
0.590473 |
| |
0.590310 |
| |
0.590303 |
| |
0.590048 |
| |
0.589846 |
| |
0.589776 |
| |
0.589759 |
| |
0.589692 |
| |
0.589656 |
|
|
|
|
|
 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.
|
