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ODEON KAPITAL AG

UID CHE-348.764.474 · CH-ID CH-020.3.052.833-2
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  3. Correlation

Correlation

Correlation measures how closely two return series have moved together, including direction and strength, over a selected sample and timeframe.

Defined termReviewed 16 July 2026

Related terms

Asset AllocationDiversificationPortfolioMarket RiskDrawdownExposure

Educational risk notice

This material is general education, not personal investment advice or a promise of results. Markets can move beyond planned levels, and losses can exceed expectations when leverage, liquidity, gaps, or operational failures are involved.

Read the full risk disclosure
Trading glossaryReviewed 16 July 2026

Definition

Correlation measures how closely two return series have moved together, including direction and strength, over a selected sample and timeframe.

In market context

Positive correlation means returns tended to move in the same direction, negative correlation means they tended to move oppositely, and a value near zero indicates little linear relationship in the sample. Correlation can change sharply during stress and does not establish causation. Portfolio diversification therefore requires attention to underlying risk drivers, not merely historical correlation numbers or different instrument names.

Source

Use the primary source for fuller regulatory or market context.

Investor.gov — Asset Allocation and Diversification

Educational risk notice

This material is general education, not personal investment advice or a promise of results. Markets can move beyond planned levels, and losses can exceed expectations when leverage, liquidity, gaps, or operational failures are involved.

Read the full risk disclosure

Related glossary terms

Selected from explicit term relationships and shared tags.

beginner3 min

Asset Allocation

Asset allocation is the planned division of a portfolio among asset classes according to an investor’s objectives, time horizon, and risk constraints.

portfolio · strategyRead guide
beginner3 min

Diversification

Diversification spreads exposure across investments or risk drivers so that one adverse event is less likely to dominate the entire portfolio.

portfolio · riskRead guide
beginner3 min

Portfolio

A portfolio is the combined set of cash, holdings, positions, and other financial exposures considered together for allocation, performance, and risk.

portfolio · reportingRead guide
beginner3 min

Market Risk

Market risk is the possibility of loss caused by adverse changes in prices, rates, volatility, correlations, or other broad market conditions.

risk · marketsRead guide