|
|
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 |
| |
0.901982 |
| |
0.901967 |
| |
0.901911 |
| |
0.901549 |
| |
0.901308 |
| |
0.901308 |
| |
0.901026 |
| |
0.901026 |
| |
0.900965 |
| |
0.900955 |
| |
0.900924 |
| |
0.900790 |
| |
0.900596 |
| |
0.900519 |
| |
0.900453 |
| |
0.900362 |
| |
0.900092 |
| |
0.899951 |
| |
0.899886 |
| |
0.899392 |
| |
0.899365 |
| |
0.899365 |
| |
0.898972 |
| |
0.898479 |
| |
0.898173 |
|
|
|
|
|
 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.
|
