|
|
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 |
| |
0.740710 |
| |
0.740594 |
| |
0.740594 |
| |
0.740481 |
| |
0.740481 |
| |
0.740463 |
| |
0.740305 |
| |
0.740305 |
| |
0.740244 |
| |
0.740146 |
| |
0.740113 |
| |
0.740092 |
| |
0.740092 |
| |
0.739915 |
| |
0.739760 |
| |
0.739608 |
| |
0.739509 |
| |
0.739499 |
| |
0.739442 |
| |
0.739424 |
| |
0.739406 |
| |
0.739313 |
| |
0.739207 |
| |
0.739119 |
| |
0.739096 |
|
|
|
|
|
 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.
|
