|
|
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 |
| |
0.820826 |
| |
0.820663 |
| |
0.819009 |
| |
0.818310 |
| |
0.817274 |
| |
0.817150 |
| |
0.815169 |
| |
0.815093 |
| |
0.814997 |
| |
0.814310 |
| |
0.814207 |
| |
0.813965 |
| |
0.813854 |
| |
0.813214 |
| |
0.812879 |
| |
0.812187 |
| |
0.810867 |
| |
0.810609 |
| |
0.810595 |
| |
0.810024 |
| |
0.809962 |
| |
0.809796 |
| |
0.809499 |
| |
0.809384 |
| |
0.808917 |
|
|
|
|
|
 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.
|
