|
|
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 |
| |
0.930854 |
| |
0.930823 |
| |
0.930778 |
| |
0.930699 |
| |
0.930555 |
| |
0.930518 |
| |
0.930508 |
| |
0.930481 |
| |
0.930404 |
| |
0.930212 |
| |
0.929872 |
| |
0.929851 |
| |
0.929563 |
| |
0.929430 |
| |
0.929284 |
| |
0.929275 |
| |
0.929051 |
| |
0.928961 |
| |
0.928874 |
| |
0.928691 |
| |
0.928403 |
| |
0.928217 |
| |
0.928148 |
| |
0.927914 |
| |
0.927395 |
|
|
|
|
|
 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.
|
