|
|
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 |
| |
0.865315 |
| |
0.865309 |
| |
0.865293 |
| |
0.865265 |
| |
0.865258 |
| |
0.865222 |
| |
0.865222 |
| |
0.865222 |
| |
0.865183 |
| |
0.864982 |
| |
0.864948 |
| |
0.864945 |
| |
0.864945 |
| |
0.864938 |
| |
0.864876 |
| |
0.864867 |
| |
0.864853 |
| |
0.864835 |
| |
0.864696 |
| |
0.864685 |
| |
0.864641 |
| |
0.864457 |
| |
0.864443 |
| |
0.864429 |
| |
0.864417 |
|
|
|
|
|
 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.
|
