|
|
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 |
| |
0.758367 |
| |
0.758217 |
| |
0.758141 |
| |
0.758057 |
| |
0.758051 |
| |
0.757921 |
| |
0.757921 |
| |
0.757816 |
| |
0.757779 |
| |
0.757772 |
| |
0.757728 |
| |
0.757671 |
| |
0.757528 |
| |
0.757502 |
| |
0.757460 |
| |
0.757282 |
| |
0.757225 |
| |
0.757105 |
| |
0.757100 |
| |
0.757097 |
| |
0.757078 |
| |
0.756992 |
| |
0.756928 |
| |
0.756896 |
| |
0.756871 |
|
|
|
|
|
 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.
|
