Average pairwise correlation
The average of the correlations between every pair in a group — on the Portfolio, every pair of holdings.
How to read it
Higher means the group moves more as one. On the Portfolio, lower means the holdings are more genuinely different bets.
How to use it
One number for how much the holdings move together.
In Kereon
Portfolio. The mean of every pair in the correlation matrix, each pair counted once.
Charts · Correlation. The mean of every pair's coefficient in the matrix — the chosen method and lookback — each pair once, blank pairs left out.
Also called: average pairwise, average pairwise correlation, avg correlation.