What does the correlation coefficient (rij) measure? What are the two most extreme values it can take,

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What does the correlation coefficient (rij) measure? What are the two most extreme values it can take, and what do they indicate? In the real world, are more variables positively or negatively correlated?
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Fundamentals of Investment Management

ISBN: 978-0078034626

10th edition

Authors: Geoffrey Hirt, Stanley Block

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