|
|
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 |
| |
0.751997 |
| |
0.751906 |
| |
0.751880 |
| |
0.751864 |
| |
0.751761 |
| |
0.751718 |
| |
0.751661 |
| |
0.751446 |
| |
0.751342 |
| |
0.751258 |
| |
0.751058 |
| |
0.751043 |
| |
0.751038 |
| |
0.751030 |
| |
0.750934 |
| |
0.750858 |
| |
0.750810 |
| |
0.750716 |
| |
0.750639 |
| |
0.750639 |
| |
0.750570 |
| |
0.750561 |
| |
0.750556 |
| |
0.750556 |
| |
0.750552 |
|
|
|
|
|
 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.
|
