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Correlation with Differ Units of Measurement

When calculationg the Pearson correlation coefficient, it does not matter. It is defined as $$ \rho\equiv \frac{cov(x,y)}{\sigma_x\sigma_y}=\frac{\mathrm{E}\left((x-\mu_x)(y-\mu_y)\right)}{\sigma_x\...
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Correlation with Differ Units of Measurement

When calculating a correlation it is generally advised to standardize, yes. I don't see why this case would be an exception although failing to standardize wouldn't probably be the biggest issue here. ...
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How do you find the corresponding market index of a stock?

Generally, it depends on what you want to do with tbe index beta. If you want to match the betas on popular web sites like Yahoo Finance, then for all U.S. stocks you'd use S&P 500 (even for ...
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