|
|
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 |
| |
0.916000 |
| |
0.915940 |
| |
0.915882 |
| |
0.915877 |
| |
0.915854 |
| |
0.915854 |
| |
0.915650 |
| |
0.915551 |
| |
0.915551 |
| |
0.915528 |
| |
0.915528 |
| |
0.915493 |
| |
0.915430 |
| |
0.915141 |
| |
0.915074 |
| |
0.914885 |
| |
0.914863 |
| |
0.914651 |
| |
0.914613 |
| |
0.914175 |
| |
0.913958 |
| |
0.913749 |
| |
0.913625 |
| |
0.913595 |
| |
0.913595 |
|
|
|
|
|
 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.
|
