|
|
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 |
| |
0.789677 |
| |
0.789363 |
| |
0.789321 |
| |
0.789261 |
| |
0.789152 |
| |
0.788888 |
| |
0.788823 |
| |
0.788623 |
| |
0.788609 |
| |
0.788609 |
| |
0.788547 |
| |
0.788462 |
| |
0.788440 |
| |
0.788414 |
| |
0.788397 |
| |
0.788305 |
| |
0.788305 |
| |
0.787948 |
| |
0.787926 |
| |
0.787766 |
| |
0.787658 |
| |
0.787646 |
| |
0.787507 |
| |
0.787499 |
| |
0.787484 |
|
|
|
|
|
 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.
|
