|
|
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 |
| |
0.911463 |
| |
0.911439 |
| |
0.911352 |
| |
0.910966 |
| |
0.910759 |
| |
0.910673 |
| |
0.910617 |
| |
0.910404 |
| |
0.910307 |
| |
0.910212 |
| |
0.910050 |
| |
0.910041 |
| |
0.909973 |
| |
0.909940 |
| |
0.909663 |
| |
0.909345 |
| |
0.909320 |
| |
0.909093 |
| |
0.908790 |
| |
0.908736 |
| |
0.908683 |
| |
0.908569 |
| |
0.908420 |
| |
0.908196 |
| |
0.908167 |
|
|
|
|
|
 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.
|
