Run a Correlation analysis using EXCEL to explore the relationship between the two company/stock/index prices.

a) Show the output from Excel.

b) Interpret the correlation coefficient.

c) Do you think combining these two stocks will reduce risk of investment in your portfolio? Explain.

MIN.AX Date Open Close 1/1/20 16.5 16.59 8/1/20 16.709999 17.389999 15/1/20 17.49 17.51 22/1/20 17.52 16.73 29/1/20 16.809999 16.639999 5/2/20 17 17.139999 12/2/20 17.709999 19.35 19/2/20 19.299999 18.83 26/2/20 18.34 16.9 4/3/20 16.9 14.97 11/3/20 14.94 14.58 18/3/20 14.21 12.96 25/3/20 13.6 13.97 1/4/20 14.39 15.2 8/4/20 14.75 16.18 15/4/20 16.200001 16.309999 22/4/20 16.040001 15.95 29/4/20 16.059999 16.610001 6/5/20 16.51 16.84 13/5/20 16.530001 19.16 20/5/20 18.940001 19.219999 27/5/20 18.969999 19.42 3/6/20 19.620001 20.790001 10/6/20 20.790001 20.049999 17/6/20 20.15 20.700001 24/6/20 20.85 21.17 1/7/20 21.280001 22.549999 8/7/20 22.709999 23.110001 15/7/20 23.66 24.57 22/7/20 24.41 25.59 29/7/20 25.59 26.84 5/8/20 26.799999 28.25 12/8/20 28 28.83 19/8/20 28.950001 28.799999 26/8/20 28.85 28.620001 2/9/20 29.07 27.709999 9/9/20 27.18 27.9 16/9/20 28.370001 25.17 23/9/20 25.360001 24.940001 30/9/20 24.700001 25.25 7/10/20 25.02 24.99 14/10/20 25.190001 24.91 21/10/20 25.01 25.35 28/10/20 24.969999 25.09 4/11/20 25.24 27.17 11/11/20 27.5 28.5 18/11/20 28.51 31.639999 25/11/20 32.189999 32.200001 2/12/20 32.630001 34.779999 9/12/20 34.689999 32.360001 16/12/20 32.220001 34.84 23/12/20 34.700001 36.650002 30/12/20 36.5 39.049999 6/1/21 39.790001 38.900002 13/1/21 39.16 38.349998 20/1/21 38.450001 38.84 27/1/21 39.02 36.599998 3/2/21 36.66 37 10/2/21 38.330002 36.880001 17/2/21 37.5 38.68 ALLAX Date Open Close 1/1/20 33.669998 34.349998 8/1/20 34.360001 35.669998 15/1/20 35.900002 36.52 22/1/20 37.299999 35.709999 29/1/20 35.73 36.189999 5/2/20 36.630001 36.950001 12/2/20 37.110001 36.599998 19/2/20 36.82 35.990002 26/2/20 35.299999 33.540001 4/3/20 33.209999 29.9 11/3/2030.280001 21.32 18/3/20 20.370001 17.09 25/3/20 20.5 21.35 1/4/20 22.379999 21.75 8/4/20 21.65 23.07 15/4/20 23.360001 22.370001 22/4/20 21.780001 22.98 29/4/20 22.75 24.700001 6/5/20 24.870001 25.58 13/5/20 25.27 26.799999 20/5/20 26.6 26.639999 27/5/20 26.969999 26.51 3/6/20 26.799999 28.1 10/6/20 27.67 27.02 17/6/20 27.1 26.379999 24/6/20 26.360001 25.5 1/7/20 25.4 25.99 8/7/20 25.48 25.09 15/7/20 25.5 26.799999 22/7/20 26.799999 25.65 29/7/20 25.200001 5/8/20 27.51 28.790001 12/8/20 28.700001 28.02 19/8/20 28.040001 29 26/8/20 28.83 27.67 2/9/20 27.889999 29.34 9/9/20 28.35 28.290001 16/9/20 28.6 29.15 23/9/20 29.98 30.68 30/9/20 30.190001 30.74 7/10/20 30.77 31.09 14/10/20 31 30.91 21/10/20 30.889999 30.17 28/10/20 30.01 29.77 4/11/20 29.65 32.73 11/11/20 33.07 33.310001 18/11/20 31.25 33.889999 25/11/20 34.450001 32.52 2/12/20 32.68 31.379999 9/12/20 31.58 30.379999 16/12/20 30.85 30.629999 23/12/20 30.780001 31.82 30/12/20 31.6 30.98 6/1/21 30.940001 31.35 13/1/21 31.530001 29.299999 20/1/21 29.4 31.15 27/1/21 30.860001 32.619999 3/2/21 32.68 33.34 10/2/21 33.25 33.549999 17/2/21 33.509998 33.34 27.6 MIN.AX Date Open Close 1/1/20 16.5 16.59 8/1/20 16.709999 17.389999 15/1/20 17.49 17.51 22/1/20 17.52 16.73 29/1/20 16.809999 16.639999 5/2/20 17 17.139999 12/2/20 17.709999 19.35 19/2/20 19.299999 18.83 26/2/20 18.34 16.9 4/3/20 16.9 14.97 11/3/20 14.94 14.58 18/3/20 14.21 12.96 25/3/20 13.6 13.97 1/4/20 14.39 15.2 8/4/20 14.75 16.18 15/4/20 16.200001 16.309999 22/4/20 16.040001 15.95 29/4/20 16.059999 16.610001 6/5/20 16.51 16.84 13/5/20 16.530001 19.16 20/5/20 18.940001 19.219999 27/5/20 18.969999 19.42 3/6/20 19.620001 20.790001 10/6/20 20.790001 20.049999 17/6/20 20.15 20.700001 24/6/20 20.85 21.17 1/7/20 21.280001 22.549999 8/7/20 22.709999 23.110001 15/7/20 23.66 24.57 22/7/20 24.41 25.59 29/7/20 25.59 26.84 5/8/20 26.799999 28.25 12/8/20 28 28.83 19/8/20 28.950001 28.799999 26/8/20 28.85 28.620001 2/9/20 29.07 27.709999 9/9/20 27.18 27.9 16/9/20 28.370001 25.17 23/9/20 25.360001 24.940001 30/9/20 24.700001 25.25 7/10/20 25.02 24.99 14/10/20 25.190001 24.91 21/10/20 25.01 25.35 28/10/20 24.969999 25.09 4/11/20 25.24 27.17 11/11/20 27.5 28.5 18/11/20 28.51 31.639999 25/11/20 32.189999 32.200001 2/12/20 32.630001 34.779999 9/12/20 34.689999 32.360001 16/12/20 32.220001 34.84 23/12/20 34.700001 36.650002 30/12/20 36.5 39.049999 6/1/21 39.790001 38.900002 13/1/21 39.16 38.349998 20/1/21 38.450001 38.84 27/1/21 39.02 36.599998 3/2/21 36.66 37 10/2/21 38.330002 36.880001 17/2/21 37.5 38.68 ALLAX Date Open Close 1/1/20 33.669998 34.349998 8/1/20 34.360001 35.669998 15/1/20 35.900002 36.52 22/1/20 37.299999 35.709999 29/1/20 35.73 36.189999 5/2/20 36.630001 36.950001 12/2/20 37.110001 36.599998 19/2/20 36.82 35.990002 26/2/20 35.299999 33.540001 4/3/20 33.209999 29.9 11/3/2030.280001 21.32 18/3/20 20.370001 17.09 25/3/20 20.5 21.35 1/4/20 22.379999 21.75 8/4/20 21.65 23.07 15/4/20 23.360001 22.370001 22/4/20 21.780001 22.98 29/4/20 22.75 24.700001 6/5/20 24.870001 25.58 13/5/20 25.27 26.799999 20/5/20 26.6 26.639999 27/5/20 26.969999 26.51 3/6/20 26.799999 28.1 10/6/20 27.67 27.02 17/6/20 27.1 26.379999 24/6/20 26.360001 25.5 1/7/20 25.4 25.99 8/7/20 25.48 25.09 15/7/20 25.5 26.799999 22/7/20 26.799999 25.65 29/7/20 25.200001 5/8/20 27.51 28.790001 12/8/20 28.700001 28.02 19/8/20 28.040001 29 26/8/20 28.83 27.67 2/9/20 27.889999 29.34 9/9/20 28.35 28.290001 16/9/20 28.6 29.15 23/9/20 29.98 30.68 30/9/20 30.190001 30.74 7/10/20 30.77 31.09 14/10/20 31 30.91 21/10/20 30.889999 30.17 28/10/20 30.01 29.77 4/11/20 29.65 32.73 11/11/20 33.07 33.310001 18/11/20 31.25 33.889999 25/11/20 34.450001 32.52 2/12/20 32.68 31.379999 9/12/20 31.58 30.379999 16/12/20 30.85 30.629999 23/12/20 30.780001 31.82 30/12/20 31.6 30.98 6/1/21 30.940001 31.35 13/1/21 31.530001 29.299999 20/1/21 29.4 31.15 27/1/21 30.860001 32.619999 3/2/21 32.68 33.34 10/2/21 33.25 33.549999 17/2/21 33.509998 33.34 27.6