|
|
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 |
| |
0.831042 |
| |
0.830998 |
| |
0.830580 |
| |
0.830512 |
| |
0.830035 |
| |
0.829955 |
| |
0.828737 |
| |
0.827330 |
| |
0.827257 |
| |
0.826915 |
| |
0.826075 |
| |
0.825945 |
| |
0.825845 |
| |
0.825799 |
| |
0.825655 |
| |
0.825625 |
| |
0.825103 |
| |
0.824857 |
| |
0.824857 |
| |
0.824604 |
| |
0.824078 |
| |
0.823670 |
| |
0.823407 |
| |
0.822810 |
| |
0.821011 |
|
|
|
|
|
 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.
|
