|
|
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 |
| |
0.644050 |
| |
0.644042 |
| |
0.644010 |
| |
0.643852 |
| |
0.643842 |
| |
0.643355 |
| |
0.643318 |
| |
0.643226 |
| |
0.642865 |
| |
0.642708 |
| |
0.642606 |
| |
0.642588 |
| |
0.642542 |
| |
0.642355 |
| |
0.642353 |
| |
0.642304 |
| |
0.641957 |
| |
0.641895 |
| |
0.641756 |
| |
0.641726 |
| |
0.641686 |
| |
0.641662 |
| |
0.641512 |
| |
0.641246 |
| |
0.641218 |
|
|
|
|
|
 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.
|
