> For the complete documentation index, see [llms.txt](https://klickanalytics.gitbook.io/docs/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://klickanalytics.gitbook.io/docs/tools/correlations.md).

# Correlations

Correlation, in the finance and investment industries, is a statistic that measures the degree to which two securities move in relation to each other. Correlations are used in advanced portfolio managent, computed as the correlation coefficient which has a value that must fall between -1.0 and +1.0.

**Correlation is a statistic that measures the degree to which two variables move in relation to each other.**

With our correlation app;

* You can create and store multiple correlations 

<figure><img src="/files/mAn1fTNRQF8CeJkSwNd0" alt=""><figcaption></figcaption></figure>

* Within a correlation, you can&#x20;
  * **Save**&#x20;
  * **Save As**
  * **Rename**
  * **Delete**
  * **Share with any KlickAnalytics member users**
  * **Ability to set custom dates to view the correlation matrix between your instruments**
  * **Ability to add multiple symbols to view their correlation matrix and much more.**

<figure><img src="/files/omcjT2hDLRyKJs6apSb1" alt=""><figcaption></figcaption></figure>

<figure><img src="/files/gImx6VMfZ8wNNlCSrOLZ" alt=""><figcaption></figcaption></figure>