Correlation and diversification
Owning many shares spreads risk only if they do not all rise and fall together. This tool measures how closely your instruments moved month by month, how much the mix calmed the swings of its parts, and which holding carries most of the risk.
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Prices: daily closing prices from the Bucharest Stock Exchange (bvb.ro), end of day. Returns are price returns: dividends are not reinvested unless the instrument is a total-return index such as BET-TR, so share portfolios understate what a holder received. No trading costs, taxes, spreads or currency effects are included.
Correlations are measured on month-end closes. They change over time and are not fixed properties of a pair.
Past returns do not tell you future returns. For information and education only, not investment advice.