|
|
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 |
| |
0.936017 |
| |
0.935965 |
| |
0.935804 |
| |
0.935739 |
| |
0.935593 |
| |
0.935577 |
| |
0.935497 |
| |
0.935428 |
| |
0.935394 |
| |
0.935388 |
| |
0.935324 |
| |
0.935295 |
| |
0.934903 |
| |
0.934901 |
| |
0.934707 |
| |
0.934703 |
| |
0.934701 |
| |
0.934538 |
| |
0.934508 |
| |
0.934376 |
| |
0.934350 |
| |
0.934346 |
| |
0.934339 |
| |
0.934190 |
| |
0.934137 |
|
|
|
|
|
 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.
|
