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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.
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| Symbol | Correlation |
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1.000000 |
| |
0.999994 |
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0.999556 |
| |
0.999422 |
| |
0.999142 |
| |
0.999121 |
| |
0.999113 |
| |
0.999109 |
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0.997942 |
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0.997580 |
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0.971467 |
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0.969152 |
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0.968708 |
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0.968622 |
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0.966493 |
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0.966257 |
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0.962000 |
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0.960855 |
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0.959935 |
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0.959341 |
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0.959081 |
| |
0.957841 |
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0.957600 |
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0.957537 |
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0.957312 |
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 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.
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