|
|
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 |
| |
0.808273 |
| |
0.807622 |
| |
0.807317 |
| |
0.807275 |
| |
0.806850 |
| |
0.806372 |
| |
0.806114 |
| |
0.804829 |
| |
0.804708 |
| |
0.804569 |
| |
0.804490 |
| |
0.804316 |
| |
0.803205 |
| |
0.801154 |
| |
0.801154 |
| |
0.800758 |
| |
0.799230 |
| |
0.798257 |
| |
0.797607 |
| |
0.797607 |
| |
0.797341 |
| |
0.796360 |
| |
0.796300 |
| |
0.796286 |
| |
0.796195 |
|
|
|
|
|
 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.
|
