|
|
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 |
| |
0.628468 |
| |
0.628171 |
| |
0.628147 |
| |
0.628116 |
| |
0.627935 |
| |
0.627845 |
| |
0.627718 |
| |
0.627673 |
| |
0.627658 |
| |
0.627559 |
| |
0.627413 |
| |
0.627267 |
| |
0.627178 |
| |
0.627124 |
| |
0.626994 |
| |
0.626841 |
| |
0.626820 |
| |
0.626820 |
| |
0.626789 |
| |
0.626684 |
| |
0.626486 |
| |
0.626357 |
| |
0.626251 |
| |
0.626233 |
| |
0.626090 |
|
|
|
|
|
 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.
|
