|
|
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 |
| |
0.738959 |
| |
0.738905 |
| |
0.738843 |
| |
0.738776 |
| |
0.738721 |
| |
0.738683 |
| |
0.738607 |
| |
0.738600 |
| |
0.738593 |
| |
0.738556 |
| |
0.738433 |
| |
0.738361 |
| |
0.738309 |
| |
0.738194 |
| |
0.738182 |
| |
0.738108 |
| |
0.738045 |
| |
0.738012 |
| |
0.737879 |
| |
0.737805 |
| |
0.737728 |
| |
0.737703 |
| |
0.737689 |
| |
0.737608 |
| |
0.737467 |
|
|
|
|
|
 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.
|
