You can use the OFFSET function to dynamically create the array references.
Something like:
=IF(B$1=$A2,"",CORREL(OFFSET(Sheet1!$A$2,0,MATCH($ A2,Sheet1!$1:$1,FALSE)-1,5,1),OFFSET(Sheet1!$A$2,0,MATCH(B$1,Sheet1!$1:$1 ,FALSE)-1,5,1)))
The first part of the IF just says not to bother correlating a security
against itself.
The MATCH functions figure out which columns of data to pull from sheet1.
The OFFSET functions use the match results to create the two arrays; the 5
in each OFFSET is to get five rows -- years -- of data.
--Bruce


"katie" wrote:

I have 30 securities with 5 years on monthly returns
Securities across row A and returns down the columns

A B C D
1 IBM TGT HD
2 1 3 2
3 -.5 2 -1
4 2 6 -3


I want to create a matrix that correlates the return of every security
against every securit

IBM TGT HD
IBM
TGT
HD

Is there a way to put a look up function into a correlation furnction when
you want it to supply you with an array?

=Correl(lookup (IBM,other work sheet row A, give array set below IBM in
other work sheet), lookup TGT, other work sheet row a, give array set below
TGT in other worksheet)

This type of formula is not working for me so any suggestions would be great.