|
|
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 |
| |
0.891127 |
| |
0.891097 |
| |
0.890801 |
| |
0.890715 |
| |
0.890654 |
| |
0.890590 |
| |
0.890487 |
| |
0.890482 |
| |
0.890430 |
| |
0.890125 |
| |
0.890104 |
| |
0.890087 |
| |
0.890049 |
| |
0.889824 |
| |
0.889816 |
| |
0.889605 |
| |
0.889586 |
| |
0.889478 |
| |
0.889351 |
| |
0.889262 |
| |
0.888943 |
| |
0.888887 |
| |
0.888869 |
| |
0.888792 |
| |
0.888764 |
|
|
|
|
|
 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.
|
