Calculating the Pearson correlation coefficient can be complicated but software makes it much easier. You can use several methods to calculate correlation in Excel.

Finding Correlation in Excel There are several methods to calculate correlation in Excel. The simplest is to get two data sets side-by-side and use the built-in correlation formula: ...

Correlation is a statistical measure of how two securities move in relation to each other. Investors use correlation to diversify their portfolios and hedge against risk.