Question: What is the difference between correlation coefficients between two stocks and the covariance between two stocks? Hypothetically, if I have an equally weighted portfolio between

What is the difference between correlation coefficients between two stocks and the covariance
between two stocks? Hypothetically, if I have an equally weighted portfolio between two stocks
what would be the best possible correlation coefficient from a diversification standpoint? What
type of risk would be diversified and what type of risk would not be diversified?
 What is the difference between correlation coefficients between two stocks and

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