● correlation — how two names move together
AAPL vs MSFT
The return correlation of AAPL and MSFT from ~2 years of real daily returns — how tightly the two move together. A low or negative correlation means they diversify each other; a high one means they rise and fall as one. Real-only; a name is 1.00 correlated with itself.
+0.39
correlation over 500 trading days
Moderately coupled.
Recent (63d)
+0.33
R²
0.15
β of AAPL on MSFT
0.42
Pearson correlation of daily log-returns over ~2 years (and a recent 63-day window). R² is the share of AAPL's moves explained by MSFT; β on MSFT is how AAPL has moved per 1 move in MSFT. Correlation is unitless in [-1, 1] — negative (green) means the two have moved opposite, a genuine hedge. Your decisions, your risk.