|
|
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 |
| |
0.660158 |
| |
0.660127 |
| |
0.659842 |
| |
0.659800 |
| |
0.659780 |
| |
0.659771 |
| |
0.659753 |
| |
0.659463 |
| |
0.659433 |
| |
0.659433 |
| |
0.659342 |
| |
0.659342 |
| |
0.659243 |
| |
0.659222 |
| |
0.659217 |
| |
0.659214 |
| |
0.658870 |
| |
0.658852 |
| |
0.658845 |
| |
0.658627 |
| |
0.658627 |
| |
0.658540 |
| |
0.658480 |
| |
0.658480 |
| |
0.658290 |
|
|
|
|
|
 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.
|
