|
|
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 |
| |
0.862949 |
| |
0.862900 |
| |
0.862873 |
| |
0.862859 |
| |
0.862843 |
| |
0.862832 |
| |
0.862796 |
| |
0.862772 |
| |
0.862626 |
| |
0.862567 |
| |
0.862461 |
| |
0.862407 |
| |
0.862368 |
| |
0.862274 |
| |
0.862161 |
| |
0.862157 |
| |
0.862140 |
| |
0.862130 |
| |
0.862117 |
| |
0.862075 |
| |
0.862068 |
| |
0.861997 |
| |
0.861946 |
| |
0.861939 |
| |
0.861918 |
|
|
|
|
|
 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.
|
