|
|
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 |
| |
0.777063 |
| |
0.777056 |
| |
0.776974 |
| |
0.776931 |
| |
0.776871 |
| |
0.776826 |
| |
0.776772 |
| |
0.776740 |
| |
0.776740 |
| |
0.776722 |
| |
0.776638 |
| |
0.776546 |
| |
0.776372 |
| |
0.776233 |
| |
0.776156 |
| |
0.776019 |
| |
0.775996 |
| |
0.775755 |
| |
0.775688 |
| |
0.775583 |
| |
0.775426 |
| |
0.775353 |
| |
0.775348 |
| |
0.775244 |
| |
0.775235 |
|
|
|
|
|
 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.
|
