|
|
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 |
| |
0.943979 |
| |
0.943897 |
| |
0.943872 |
| |
0.943844 |
| |
0.943769 |
| |
0.943768 |
| |
0.943765 |
| |
0.943716 |
| |
0.943690 |
| |
0.943617 |
| |
0.943581 |
| |
0.943544 |
| |
0.943366 |
| |
0.943349 |
| |
0.943329 |
| |
0.943212 |
| |
0.943111 |
| |
0.942925 |
| |
0.942803 |
| |
0.942669 |
| |
0.942553 |
| |
0.942549 |
| |
0.942510 |
| |
0.942376 |
| |
0.942354 |
|
|
|
|
|
 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.
|
