|
|
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 |
| |
0.927090 |
| |
0.926996 |
| |
0.926906 |
| |
0.926202 |
| |
0.926066 |
| |
0.925933 |
| |
0.925918 |
| |
0.925682 |
| |
0.925599 |
| |
0.925204 |
| |
0.924678 |
| |
0.924659 |
| |
0.924597 |
| |
0.924401 |
| |
0.924229 |
| |
0.924148 |
| |
0.923733 |
| |
0.923658 |
| |
0.923535 |
| |
0.923355 |
| |
0.923262 |
| |
0.923063 |
| |
0.922472 |
| |
0.922458 |
| |
0.922412 |
|
|
|
|
|
 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.
|
