|
|
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 |
| |
0.787437 |
| |
0.787413 |
| |
0.787371 |
| |
0.787353 |
| |
0.787133 |
| |
0.787078 |
| |
0.787067 |
| |
0.786944 |
| |
0.786927 |
| |
0.786890 |
| |
0.786821 |
| |
0.786815 |
| |
0.786791 |
| |
0.786782 |
| |
0.786779 |
| |
0.786708 |
| |
0.786664 |
| |
0.786568 |
| |
0.786523 |
| |
0.786270 |
| |
0.786267 |
| |
0.786267 |
| |
0.786102 |
| |
0.785965 |
| |
0.785868 |
|
|
|
|
|
 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.
|
