How to use this calculator
- Enter first aligned return series (%), second aligned return series (%).
- Choose a display currency, then select Calculate. Results also update after a brief pause while you edit.
- Read the result with the assumptions below. Export details or save a second scenario to compare your choices.
Formula and method
Assumptions and limitations
Use your own matching-period observations. These descriptive calculations are not forecasts, investment advice or a national dataset. Lists accept up to 100 comma-separated numbers; do not enter thousands separators. Both series must vary; correlation does not establish causation. Covariance uses squared percentage-point units.
Worked example
For the sample inputs shown above, financial correlation and covariance produces a first result of approximately 1. The assumptions below explain what this result represents.
What the result means
Compare the direction and strength of a linear relationship between two aligned financial series.
Common questions
How is the calculation performed?
Pearson r = centered cross-products / sqrt(centered square sums); sample covariance divides cross-products by n−1.
What does the model leave out?
Use your own matching-period observations. These descriptive calculations are not forecasts, investment advice or a national dataset. Lists accept up to 100 comma-separated numbers; do not enter thousands separators. Both series must vary; correlation does not establish causation. Covariance uses squared percentage-point units.
Methodology and transparency
Calculation specification reviewed on 2026-10-14. Mathematical implementation is tested against independent reference fixtures. This does not imply review by a licensed financial professional. Read the testing and precision policy.
Background reference: www.itl.nist.gov — financial method. FinanceMath implements its own calculator.