|
|
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 |
| |
0.857148 |
| |
0.857023 |
| |
0.855992 |
| |
0.855840 |
| |
0.855738 |
| |
0.855544 |
| |
0.855468 |
| |
0.855335 |
| |
0.855300 |
| |
0.854760 |
| |
0.854515 |
| |
0.854343 |
| |
0.854241 |
| |
0.854224 |
| |
0.854219 |
| |
0.854142 |
| |
0.854084 |
| |
0.854074 |
| |
0.853997 |
| |
0.853991 |
| |
0.853967 |
| |
0.853775 |
| |
0.853642 |
| |
0.853481 |
| |
0.853471 |
|
|
|
|
|
 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.
|
