|
|
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 |
| |
0.734788 |
| |
0.734764 |
| |
0.734726 |
| |
0.734616 |
| |
0.734551 |
| |
0.734551 |
| |
0.734517 |
| |
0.734432 |
| |
0.734405 |
| |
0.734405 |
| |
0.734357 |
| |
0.734258 |
| |
0.734243 |
| |
0.734204 |
| |
0.734174 |
| |
0.734159 |
| |
0.734139 |
| |
0.734136 |
| |
0.734136 |
| |
0.734098 |
| |
0.734096 |
| |
0.734057 |
| |
0.733991 |
| |
0.733936 |
| |
0.733883 |
|
|
|
|
|
 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.
|
