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RB> The result varies substantially depending on whether or not I manually
RB> align them. It makes sense to me to align the series by date, but is
RB> that the correct method mathematically speaking?
Aligning by date for correlation calculation is the *only* way you'll be
getting anything sensible out of it. By not aligning, the correl value
will be probably very small, but will not make sense because in
reality, you want your systems to be uncorrelated in terms of *TIME*.
Best regards,
Ivo Karindi
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