|
|
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 |
| |
0.921174 |
| |
0.921003 |
| |
0.920992 |
| |
0.920949 |
| |
0.920823 |
| |
0.920795 |
| |
0.920672 |
| |
0.920561 |
| |
0.920535 |
| |
0.920504 |
| |
0.920426 |
| |
0.920266 |
| |
0.919943 |
| |
0.919807 |
| |
0.919800 |
| |
0.919751 |
| |
0.919628 |
| |
0.919298 |
| |
0.919269 |
| |
0.919226 |
| |
0.919148 |
| |
0.919123 |
| |
0.919100 |
| |
0.919067 |
| |
0.918994 |
|
|
|
|
|
 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.
|
