|
|
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 |
| |
0.624019 |
| |
0.623942 |
| |
0.623470 |
| |
0.623390 |
| |
0.619085 |
| |
0.617580 |
| |
0.616061 |
| |
0.615991 |
| |
0.615859 |
| |
0.615005 |
| |
0.614681 |
| |
0.614298 |
| |
0.612901 |
| |
0.612564 |
| |
0.612087 |
| |
0.612074 |
| |
0.611975 |
| |
0.611867 |
| |
0.611631 |
| |
0.610895 |
| |
0.610808 |
| |
0.610527 |
| |
0.609989 |
| |
0.609847 |
| |
0.609730 |
|
|
|
|
|
 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.
|
