Alcock, Jamie (ed.); Satchell, Stephen (ed.) - 2018
, 2004) Thus at a point in time when the market return is increasing we might expect to find the correlation between any two … stocks to be, on average, lower than the correlation between those same two stocks when the market return is negative …"Avoid downturn vulnerability by managing correlation dependency Asymmetric Dependence in Finance examines the risks …
