From October 2022 to October 2023, we can see the correlation coefficient was +0.34, which signals a positive correlation, as expected. However, it is a weak correlation, due to JPM’s ...

In the above example, Apple and the S&P 500 have a correlation coefficient of 0.73817, which indicates a strong relationship between the two over 90 days of data.

A coefficient of determination of 0.347 indicates that Apple stock price movements are somewhat correlated with the index, as 1.0 represents a high correlation and 0.0 indicates no correlation.

The correlation function will ask for two rows of data from two identical timeframes. Input, click ok and voila—correlation coefficient. The correlation coefficient is a number between 1 and -1.

Correlation coefficients can mean a positive, negative, or no relationship between two variables. Use correlation coefficients to help pick securities for your portfolio.