|
|
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 |
| |
0.894203 |
| |
0.894074 |
| |
0.894074 |
| |
0.894066 |
| |
0.893934 |
| |
0.893908 |
| |
0.893857 |
| |
0.893826 |
| |
0.893662 |
| |
0.893662 |
| |
0.893656 |
| |
0.893619 |
| |
0.893611 |
| |
0.893507 |
| |
0.893345 |
| |
0.893338 |
| |
0.893257 |
| |
0.893240 |
| |
0.893221 |
| |
0.893109 |
| |
0.893068 |
| |
0.892881 |
| |
0.892777 |
| |
0.892777 |
| |
0.892731 |
|
|
|
|
|
 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.
|
