CFI-Excel-eBook

The Corporate Finance Institute Excel
Things to remember about the CORREL Function
1. #N/A error – Occurs if the given arrays are of different lengths. So, if Array1
and Array2 contain different numbers of data points, CORREL will return
the #N/A error value.
2. #DIV/0 error – Occurs if either of the given arrays are empty or if the
standard deviation of their values equals zero.
3. If an array or reference argument contains text, logical values, or empty
cells, the values are ignored; however, cells with the value zero are
included.
4. The CORREL function is exactly same as the PEARSON Function, except
that, in earlier versions of Excel (earlier than Excel 2003), the PEARSON
function may exhibit some rounding errors. Hence, it is advisable to use
the CORREL function in earlier versions of Excel. In later versions of Excel,
both functions should give the same results.
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