|
|
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 |
| |
0.596720 |
| |
0.596704 |
| |
0.596477 |
| |
0.596474 |
| |
0.596474 |
| |
0.596448 |
| |
0.596444 |
| |
0.596318 |
| |
0.595943 |
| |
0.595883 |
| |
0.595679 |
| |
0.595559 |
| |
0.595501 |
| |
0.595303 |
| |
0.595068 |
| |
0.595034 |
| |
0.595020 |
| |
0.595009 |
| |
0.594905 |
| |
0.594849 |
| |
0.594840 |
| |
0.594840 |
| |
0.594742 |
| |
0.594730 |
| |
0.594722 |
|
|
|
|
|
 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.
|
