Correlation is calculated by using each day as a single data point, and this calculation depends on the selected period. For example, if you select a period of one year, the correlation will be computed from 365 data points.
CorrelationPositively correlated variables tend to move together, negatively correlated variables move inversely to each other, and uncorrelated variables move independently of each other.
Pearson Correlation CoefficientThe Pearson Correlation Coefficient quantifies the estimated strength of the linear association between two variables. It ranges from +1 to -1: +1 indicates a perfect positive linear correlation, -1 a perfect negative linear correlation, 0 indicates no linear correlation.
Positive ValueA positive value indicates a positive correlation between two variables.
Negative ValueA negative value indicates a negative correlation between two variables.
ZeroA value of 0 indicates no correlation between two variables.