|
|
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 |
| |
0.666156 |
| |
0.666156 |
| |
0.666124 |
| |
0.665934 |
| |
0.665842 |
| |
0.665773 |
| |
0.665640 |
| |
0.665639 |
| |
0.665541 |
| |
0.665507 |
| |
0.665377 |
| |
0.665334 |
| |
0.665329 |
| |
0.665220 |
| |
0.665128 |
| |
0.665066 |
| |
0.665051 |
| |
0.664921 |
| |
0.664843 |
| |
0.664763 |
| |
0.664647 |
| |
0.664647 |
| |
0.664647 |
| |
0.664606 |
| |
0.664456 |
|
|
|
|
|
 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.
|
