IT has for some time been realized that the ordinary test of significance of the correlation coefficient cannot be applied indiscriminately to pairs of time series, since serially adjacent ...

It shows the evolution of the realized correlation coefficients RCorr_τ between sectors and markets. The long-term ...

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Correlation coefficients range from -1 to +1, indicating the strength of relationships between variables. Investors use correlation coefficients for portfolio diversification to reduce risk.