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

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Investments with low correlations to the S&P 500 can provide diversification benefits. These investments often represent different asset classes as opposed to individual stocks. A basket of low ...

The range of correlation coefficient of any bivariate discrete random vector with finite or countably infinite values is derived. We show analytically that the normal-transformed discrete bivariate ...